Investment company Infratil is set to become Kent International Airport’s new owner in a £17 million deal finalised this week.
The Kent airport closed its doors last month after owner Planestation went into administration due to lack of funds.
Simultaneously, Planestation subsidiary low-cost carrier EUjet collapsed leaving more than 5,000 passengers stranded overseas and about 100,000 forward bookings outstanding.
At the time of its failure, EUjet operated most of its European and UK services from the airport. Infratil, which already owns Glasgow Prestwick, thinks the Kent airport “has strong prospects” as a freight airport serving southern England and is well located to provide regional airline passenger services, according to chairman David Newman.
The deal will be signed off tomorrow, upon receipt of final title searches.
Infratil’s airports Europe chief executive Steven Fitzgerald will manage the Kent airport if the buyout is successful.
Infratil expects to make an operating surplus at the airport by 2009.
Until 2008, capital expenditure is expected to be £9 million, offset by operating losses of between £8 million and £10 million.
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