Passenger numbers rose from 618,201 to 842,461 in a year

Devon County Council hopes to complete the sale process for Exeter Airport in six months and may retain a larger stake than the 10% originally planned.

Previous hopes of a sale fell through when the winning South West Airports Consortium (SWAC) withdrew in the face of a Competition Commission probe.

Passenger numbers rose by 36% last year and the council leader described the airport as a "soaring success story".

Stake negotiations

Brian Greenslade said: "The council wants to see that success continue and our aim is to find the right private sector investor who will ensure that Exeter International goes from strength to strength."

He said the council's discussions with the business community and airline Flybe had been very valuable.

"There was a very strong, clear message that the council is right to sell a majority shareholding in the airport."

He added: "How big a stake will be something which we can hammer out in negotiations with a prospective buyer."