Tue, 31 Jan 2012 | BUSINESS SALE
Peel Airports Ltd, the owners of Durham Tees Valley (DTV) Airport has announced it is to sell its own shares in the airport and continue to look for a buyer for the business.
The company has put the airport on the market despite vowing, 18 months ago, to make some significant investments into the business. A company spokesman rejected claims from the local council that they had reneged on promises to make enough overall investments since buying it in 2003.
“Contrary to some recent comments, since acquiring the majority shareholding in 2003, Peel Airports has invested approximately £25 million,” the spokesman said. “In addition, regular updates regarding the business have been provided to senior representatives of a number of key local stakeholders.”
The airport’s board will continue to be fully briefed while the sale process in underway and the spokesman said that they would be making an announcement about the future of the airport as soon as they knew it themselves.
Sources told the Northern Echo newspaper that Peel is likely to make a decision on the airport within days, and that they will either continue trying to sell it or appoint administrators.
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