Airport sold for £60m

Exeter International Airport has been sold in a £60m (€89m) deal, it was announced today.

Owner Devon County Council said it had been sold to Regional and City Airports (Exeter) Ltd (RCA).

Council leader Brian Greenslade said the money would be “put to good use on behalf of the people of Devon”.

As part of the sale, London City Airport will provide additional management expertise through a technical services agreement to support the further growth and development of Exeter International Airport.

The County Council will retain a “golden share” – requiring the new owner to provide and maintain airport standards – and a non-executive seat on the board of the airport.

Mr Greenslade said RCA was the “unanimous choice“.

RCA director of airport management John Spooner said the company had a vision for Exeter International Airport, in which it becomes the natural airport of choice for the region.