Peel Airports to Sell Durham Tess Valley

Posted 20/12/2011

UK airport operator Peel Airports Limited announced last week that it has decided to sell its majority shareholding in Durham Tees Valley Airport and has appointed PricewaterhouseCoopers (PwC) to actively seek a buyer for its shares and to oversee any subsequent sale process.  According to Peel, the airport in North East England “no longer fits within the company’s strategic plans for its portfolio of airports”.

Peel Airports Limited, which is majority controlled by Vancouver Airport Services, currently holds a 75 per cent share in Durham Tess Valley Airport: the remaining stake is held by six local authorities.  The company says the facility will “continue to operate as normal during the process,” but did not outline any timescale for the sale process. 

Peel Airports also manages Liverpool John Lennon Airport and Robin Hood Doncaster Sheffield by has found it difficult to generate additional traffic at Durham Tees Valley or to stimulate demand.  According to official UK Civil Aviation Authority data, passenger traffic at the airport has fallen from a high of 917,963 in 2006 to just 224,673 last year, a figure that is expected to slip a further 10 to 15 per cent during the current calendar year.

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