Prestwick and Kent international Airport (Manston) Sold

Infratil has announced today in it’s November interim report that it will be selling two of it’s airport investments.

Infratil is an owner operator of several renewable energy, public transport and airport transport business predominantly in New Zealand and Australia. The company bought Manston airport in 2005 for £17 million.

It is reported that Ann Gloag the co founder of the transport company StageCoach has bought the airport pound for £1.  She and her brother Brian Souter set up Stagecoach in 1980.

The Scottish government had been in negotiation since last year to try and buy Prestwick Airport. Transport Scotland have issued a statement stating that the Scottish Government would be negotiating a price which would “aim to maximise the return for taxpayers investment”.

Infratil said that the two U.K airports had been unsuccessful investments for them and this was due in part to the introduction of environmental  green taxes which had affected the profitability of the two “edge of city” airports.

The company will hang on to Wellington Airport in New Zealand. Ryanair who operate from Prestwick have welcomed the news of the sale and the transfer of the airport into public ownership.

The news of the sale follows hot on the heels of   the sale of ailing Cardiff Airport to the welsh government For £52 million last month.