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September 2022, Virtual
September 29 2022, Virtual
The Welsh government has purchased Cardiff airport for £52 million from previous owner TBI.
The government agreed a deal for the airport in December and this sale has now been completed following “a period of due diligence and negotiation with TBI”.
Wales first minister Carwyn Jones said: “Cardiff airport is a vital gateway to Wales for business, tourists and general travellers alike. It is essential that its future is secured and that we develop high quality sustainable services.
"The airport will not be operated by the Welsh Government. It will be managed at arm’s length from government on a commercial basis and, over time, I expect to see a return to the public purse on the investment.”
Jones added that a chief executive to run the airport “will be announced in due course”. Lord Rowe-Beddoe has been appointed as chairman of the airport’s board.
TBI purchased Cardiff airport in 1995 and it currently serves around 1.6 million passengers a year. TBI also runs Luton and Belfast International airports, as well as airports in Bolivia, Sweden and Orlando in the US.