Leaders from the seven West Midlands Metropolitan local authorities have committed to supporting the future of Birmingham International Airport in response to two major shareholders selling up.
Macquarie and Aer Rianta each own 24.125% but have decided to sell these shares.
Between them the Councils, Birmingham, Coventry, Solihull, Wolverhampton, Sandwell, Dudley and Walsall, own a 49% stake in the airport with the remaining 2.75% held by an Employee Share Trust.
Recognising the importance of the airport to the local, regional and national economies, the leaders will work with Macquarie and Aer Rianta to safeguard Birmingham International’s on-going prosperity and ensure a smooth change of ownership.
They say they are happy to talk with potential bidders for the 48.25% stake currently up for sale.
The authorities re-iterated their strong support for the early implementation of runway extension plans which will boost the number of planes, passengers and destinations the airport serves.
Birmingham International is the UK’s fifth largest airport, generating an estimated £220 million per year worth of inward investment to the Midlands and directly supporting more than 9,600 jobs.
Councillor Ted Richards, Chairman of the West Midlands Joint Committee said, “The airport plays a pivotal role in the regional economy and our status on the global stage cannot be underestimated. That is why it is imperative that we work with all parties to ensure that the sale proves a success, Birmingham International Airport continues to prosper and that we can advance the West Midlands as a world class destination."
“We look forward to talking with potential future partners to ensure continued substantial investment and improvement in the airport to support the economic success of the region”.
The Councils have appointed Deloittes and PricewaterhouseCoopers to provide specialist advice on financial aspects of the sale.
Source: 24dash.com
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