1. ITV Report

49% stake of Newcastle Airport to be sold

Newcastle Airport is the largest airport in the North East and 11th largest in the UK. Photo: ITV

Newcastle International Airport has confirmed to ITV Tyne Tees that it has begun the process of refinancing its debt. In a statement released today, the airport said it has "a programme of debt refinancing which is reviewed and renegotiated in accordance with the banks terms. It will take much of this year to achieve the best possible deal for the business which means a specific end date cannot be confirmed at this stage."

The existing financing arrangements expire at the end of 2013.

The airport has also confirmed that it is the intention of Copenhagen Airports to sell its 49% shareholding. In recent years the company has disposed of its overseas airport interests. Newcastle Airport is understood to be the last remaining interest.

The seven Local Authorities that own the remaining 51% of share intend to retain their holding.

*The seven Local Authorities are: *

  • Durham County Council
  • Gateshead Council
  • Newcastle City Council
  • Northumberland County Council
  • North Tyneside Council
  • South Tyneside Council
  • Sunderland City Council

We have enjoyed a fruitful partnership with Copenhagen Airports over the last 11 years. Together, we have delivered major airline investments including easyJet, Jet2.com and Emirates, as well as significant capital developments, and of course the celebration of the airport’s 75th anniversary. We thank them for everything they have done. It has been excellent working with them.

– Dave Laws, Chief Executive of Newcastle International Airport

The airport serves a catchment area of the North East, South Scotland, Cumbria and North Yorkshire. 4.3 million customers used the airport in 2011.