Balfour Beatty has won a £36M contract extension its deal with Connect Roads, on behalf of Highways England, for the managing agent contract for the M1-A1 link road.
The work involves operations and maintenance on the 18 mile stretch until March 2026.
It has also announced it has reached an agreement to sell its 95% share to Blackpool Council which will give the local authority full ownership. Balfour Beatty bought their stake for £14M in 2008.
A spokesperson for Balfour Beatty said: “The sale of Blackpool Airport further simplifies the portfolio, in line with the Group’s strategy”.
The airport, which is situated on the Fylde coast in Lancashire, was placed into administration in 2014 and closed temporarily before it was reopened with reduced capacity.
Blackpool Council owned the airport in 2004, before it was sold to City Hopper Airports for £13M and eventually to Balfour Beatty in 2008.
Leader of Blackpool Council councillor Simon Blackburn said there are no plans for the “return of large scale passenger planes to the airport” but the acquisition would “safeguard the helicopter and other commercial airside activities”.
Cllr Blackburn said: “People can be confident that we have the airport’s best interests at heart, we will retain the current operating staff as well as exploring any potential opportunities for private companies with aviation interests to invest in the company so that it can grow in the future but this is not about trying to bring jumbo jets back to the airport anytime soon.”