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Balfour Beatty buys Blackpool Airport

Balfour Beatty's specialist airport investment and development group Regional and City Airports (RCA) has bought a 95% stake in Blackpool International Airport for £14M.

The airport is being sold by Northern Ireland-based property developer Mar Properties, the transaction subject to receiving the approval of the remaining minority shareholder, Blackpool Borough Council. This approval is expected to be received by 9 May 2008.

Over half a million passengers used Blackpool Airport last year, growing from 80,000 in 2002. The three major carriers using the airport are Jet2.com, Ryanair and Manx2.com.

RCA acquired Exeter International Airport for £60 million in January 2007. Data from the Civil Aviation Authority (CAA) shows that Exeter is one of the fastest growing airports in the UK and the strongest growing airport in the South West, handling just over one million arriving and departing passengers in 2007.

Balfour Beatty chief executive, Ian Tyler, said: "Blackpool International is a well-located airport with the potential to become a thriving international gateway to Lancashire and Cumbria. Our aim is to develop Blackpool to be the airport of choice for residents, businesses and visitors of Lancashire and Cumbria."

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