Ownership of UK regional airports group ‘set to change hands’

The ownership off three UK regional airports is reported to be changing hands.

Private equity firm ICG is understood to have agreed a “multi-million pound deal” to acquire Bournemouth, Exeter and Norwich airports from owner Rigby Group.

The trio of airports are run by Rigby subsidiary Regional & City City Airports (RCA).

According to reports by Sky News and the BBC, the deal is worth £200 million.

Leading business officials in the southwest are said to have been briefed about the sale ahead of an announcement expected today (Monday).

RCA is based at Exeter airport and reported that passenger numbers rose last summer by 13.4% to almost 1.5 million passengers over the same April to October period the previous year.

Jet2 started flying from Bournemouth airport earlier this year alongside Tui and Ryanair, which also operate from Exeter and Norwich airports.

RCA saw pre-tax profits rise to £14.24 million in the year to March 2024 from £1.31 million in the previous 12 months on the back of a 20% rise in revenue.   

Travel Weekly has approached ICG for comment.