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Investment firm spokesman: "Our clear ambition is to reopen Manston Airport, and start making money"

Manston Airport closed in 2014 - campaigners have fought to see it reopened

The investment firm that had been in negotiations with Thanet District Council over a Compulsory Purchase Order of the Manston Airport site, has expressed its disappointment that the plan has been shelved.

Last night councillors from Thanet District Council met. They said they had postponed plans to buy and reopen the former airport in Kent. They added that the decision followed legal advice that their proposals were not financially sound.

Niall Lawlor from RiverOak Investment Corp. said the firm is going to carry on pushing for the project to go ahead.

Meanwhile the current owners of the airport say they will press ahead with plans for a housing and business development.