Airport sale collapses after months of negotiations

Council leaders say they are "disappointed" as the sale of an airport falls through after more than eight months of negotiations.

Joint owners Cheltenham Borough Council and Gloucester City Council were unable to reach an agreement with preferred buyer Horizon Aero Group over the sale of Gloucestershire Airport.

The authorities said they were ultimately unable to accept the terms of the sale, which had "moved significantly away from the original bid prospectus".

The councils will maintain close contact with operators and tenants to provide reassurance as work continues on finding alternative options for the 375-acre site.

Established in the 1930s, the airport at Staverton has two primary tarmac runways and advanced navigation systems.

The site includes two thriving business parks and planning consent for an additional 30,000 square metres of business space.

It was earmarked for sale in November 2023 to help balance the books, with Horizon Aero Group announced as the preferred bidder in July last year.

They had hoped to sell it for £25m, but target dates to complete the deal were repeatedly missed.

Councillor Rowena Hay, leader of Cheltenham Borough Council said: ''It is our duty to deliver best value on the sale of the airport.

"Of course after a long period of due diligence, we are disappointed that we couldn't reach an agreement to deliver that and proceed with the sale to Horizon Aero Group.

''We fully appreciate the concern this will cause, particularly for those employed at the airport who will have worked hard to support the sale process," she explained.

"As we move forward, we are committed to continued engagement with staff, operators, tenants and key stakeholders to discuss the future and reach a positive outcome for Gloucestershire Airport.''

Leader of Gloucester City Council, Councillor Jeremy Hilton, added: "This news is clearly disappointing as the combination of a clear commitment to flying by Horizon, and the continued operation of aviation based businesses, would have provided a strong future for the site.

"I fully recognise that people hold different views about the potential uses of the site, but our responsibility is to take a measured, evidence‑based approach that leads to the right outcome for the long term."

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