Norwich airport has been sold to regional airport and hotels owner Rigby Group.
It is the third airport to be bought by the group, which also owns Coventry and Exeter airports.
The airport has been sold by 80.1% shareholder Omniport. Norwich City Council and Norfolk County Council will remain as minority shareholders.
Rigby Group chairman and chief executive Sir Peter Rigby said: “Regional airports are vitally important to the economic development of regions, not just in the UK but across the world.
“To survive and prosper, smaller regional airports need to cooperate and collaborate – enabling them to benefit from the economies of scale and sharing of best practice traditionally enjoyed by larger hub airports.
“I am delighted to welcome everyone at Norwich international airport to our fast growing team.
“Over the last decade they have worked hard to establish the site as East Anglia’s flagship aviation hub, and I am very much looking forward to working together as we continue to expand operations and build on that success.”
Airport chief executive Andrew Bell told the Eastern Daily Press: “This is a significant and very positive day for the airport.
“As a highly respected and stable organisation, Rigby Group’s involvement will enable us to build on the many achievements of recent years, safeguarding the future of the business and providing us with a platform from which to build an even more prosperous future for the airport itself and the region.”
Rigby Group acquired Exeter airport last year for £6 million having acquired Coventry airport from administration for an undisclosed sum in 2010.