Exeter Airport set to be bought to funding group ICG

George Thorpe

BBC Information, Devon

BBC Exeter Airport's main departures building. The building has several glass panels and a large sign with the airport's name on it. — Exeter Airport is certainly one of three airports anticipated to be bought to funding group ICG

Exeter Airport is about to be bought together with two different English regional airports in a multimillion-pound deal.

Funding agency ICG has agreed a cope with Rigby Group to buy the Devon airport, together with airports in Bournemouth and Norwich, the BBC understands.

The deal is reported to be price £200m, based on Sky Information, and BBC sources stated main enterprise officers within the South West had been briefed concerning the sale forward of an announcement anticipated on Monday.

ICG and Rigby Group have declined to remark after being approached by the BBC.

Exeter Airport, which is within the village of Clyst Honiton, opened in 1937 and at this time has industrial flights to quite a few UK and worldwide locations, together with Edinburgh, Amsterdam and Lanzarote.

The location was utilized by fighter planes throughout World Conflict Two, together with the Polish Air Drive’s 307 Squadron, who “saved the town” in Might 1942 by defending Exeter throughout a Nazi bombing raid.

The airport has grown in dimension, with a brand new arrivals constructing being opened by the Princess Royal in June 1999 earlier than a £950,000 departure lounge opened 4 years later.

In January 2007, Devon County Council bought the airport to Regional and Metropolis Airports – a specialist airport funding and growth group run by Balfour Beatty – in a deal price £60m.

In June 2013, Balfour Beatty bought the airport to Rigby Group for an undisclosed sum.

Airways which function from Exeter Airport embrace Ryanair, KLM, Aer Lingus and TUI.

The airport additionally operated as a base for Flybe earlier than the corporate went into administration and was liquidated in 2020.

Exeter Airport first opened in 1937 and has flights to locations together with Amsterdam and Lanzarote

Five airplane passengers walk up a gangway towards their aircraft at Exeter Airport. The gangway has Exeter Airport branded white boards on it. All the passengers have backpack or carry-on bags with them. — Exeter Airport first opened in 1937 and has flights to locations together with Amsterdam and Lanzarote

In August final yr, airport bosses stated the location had returned a revenue for the primary time for the reason that Covid-19 pandemic.

Its house owners stated that, within the 12 months as much as March 2024, the airport had a revenue of simply over £1m, which represented a £2m turnaround from the yr earlier than.

Passenger numbers additionally rose, with 435,000 in comparison with 402,000 the earlier yr – a rise of 8%, an airport spokesperson added.

In November, the airport stated passenger numbers reported 337,993 passengers had travelled by way of the hub from April to October 2024 – a rise of 15,740 in contrast the identical interval the earlier yr.