TGI Ltd, the owner of Cardiff Airport, has announced that it is selling the facility to the Welsh government.
The Welsh government has already entered into an agreement to buy the airport from TGI. Confirming the announcement, the airport website has reported, ‘Over the last few months, Cardiff Airport has engaged in positive and constructive discussions with the Welsh Government on how best to position Airport for challenges ahead. In the course of those discussions it emerged that a sale of the airport was one possible option.
To explore that option further, a process has been put in place which will allow the Welsh Government to undertake comprehensive due diligence. Depending upon the outcome of that due diligence and other related activities it is our understanding that the Welsh Government may decide to proceed towards a purchase.’
The Welsh First Minister, Carwyn Jones, has also announced the agreement, saying, ‘Over the past 12 months, I have repeatedly emphasised the importance to Wales of a dynamic international gateway airport in Cardiff.
During the course of the year we have developed a very constructive and positive relationship with TBI. Together we have been discussing how best to develop the airport to position it for the challenges ahead.
I can today announce that the Welsh Government has agreed with TBI to progress towards the purchase of Cardiff Airport. Such an arrangement would enable us to develop a more coherent approach to our national infrastructure planning, and integrate the airport into our wider economic development strategy.’
The airport currently serves around 1.6 million passengers a year.
The Wales business minister, Edwina Hart, said, ‘The message from business leaders and tourism operators across Wales are clear; strong, international transport links are vital to our prosperity, and key to future economic growth.
Subject to satisfactory due diligence, our investment in Cardiff Airport has the potential to create many exciting possibilities for the Welsh economy – boosting opportunities for international trade, and helping to increase visitor numbers to Wales.’