Balfour Beatty Acquires 95% of Blackpool International Airport

Balfour Beatty, the engineering, construction, services and investment group, has announced that Regional and City Airports, its specialist airport investment and development group, has agreed to acquire 95% of Blackpool International Airport for GBP14 million in cash.

The airport is being sold by Mar Properties, a northern Ireland-based property developer, and the transaction is subject to receiving the approval of the remaining minority shareholder, Blackpool Borough Council. The Council is supportive of the transaction, and this approval is expected to be received by May 9, 2008.

The airport is forecast to handle about half a million passengers in 2008, flying 12 routes to the UK, Ireland, Isle of Man and mainland European destinations.

Ian Tyler, CEO of Balfour Beatty, said: “We will work together with the airlines and our local partners to help increase its penetration within this core catchment area and to play its part in attracting inbound visitors to the region.”