Birmingham International Airport may be brought back under local authority control, in a move to bring forward the long-awaited main runway extension.
City Council leader Mike Whitby hopes to persuade fellow West Midlands council leaders to join Birmingham in mounting a bid for a controlling interest.
His move follows a decision by major shareholders Macquarie Airports Group and Dublin Airport Authority to dispose of their 48.25 per cent stake.
The sale price is open to negotiation, but the book value of the combined shareholding is £260 million.
Leaders of the region's seven metropolitan councils met behind closed doors in Birmingham for almost four hours yesterday morning to thrash out a public statement.
A guarded press release, agreed by the seven leaders, underlined strong support for the early implementation of the runway extension and an intention to meet with potential bidders for airport shares.
The councils have appointed Deloittes and PricewaterhouseCoopers to provide specialist advice.
Ted Richards, the leader of Solihull Council and chairman of the West Midlands council leaders 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 we work with all parties to ensure the sale proves a success, BIA continues to prosper and we can advance the West Midlands as a world class destination.
"We look forward to talking with potential partners to ensure continued substantial investment and improvement in the airport to support the economic success of the region."
But Coun Whitby (Con Harborne) went much further: "My view is we should own the airport because it is of strategic relevance and drives growth not just in Birmingham but the region.
"It sustains more than 9,000 jobs and generates £220 million a year for the regional economy. It is a significant player.
"I am on record as saying the airport is a catalyst to the future of the region. It is imperative we can influence its future and the best way to gain influence is either by owning it or having a partner that understands exactly what we need. We have to look at this."
The seven councils already have a 49 per cent stake, having sold a controlling interest almost 20 years ago to avoid Government restrictions on capital expenditure.
Those no longer apply and there would be nothing to prevent the councils buying the Macquarie and DAA shares.
Sources close to Coun Whitby were suggesting last night a bid might be mounted even if agreement could not be reached among all seven. There would be nothing to prevent Birmingham joining forces with any of the councils interested, it was claimed.
The disposal by Macquarie and DAA has cast doubt on the business case for extending the runway and the possibility of a second runway by 2020. If the airport was returned to the public sector, the need to make a profit would not be so great allowing more margin for investment.
Coun Whitby said it was of "incredible importance" for the regional economy the runway extension was in place as soon as possible, allowing BIA to handle direct flights to India, China and the west coast of America.
Source: The Birmingham Post
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