Coventry Airport owners would consider lease sale
14.10.05
Coventry Airport owners, TUI, have said that they would consider offers to take it over. Near neighbour Birmingham International Airport is said to have rejected the chance to buy the lease for £30m. However the airport said even if it is sold, low-cost flights from Thomsonfly, also owned by TUI, would remain.
TUI owns the operating lease to use the entire Coventry Airport site, including the airfield, buildings and airport parking, while the city council owns it. The managing director at the airport, Bill Savage, has denied it has been actively looking for a buyer. He added: '(In terms of) staying at Coventry in the form of Thomsonfly, there's no question of pulling out. TUI has a long and successful future at Coventry Airport.'
The leader of Coventry City Council, Ken Taylor, who is also on the board of Birmingham International, said it would not make business sense for Birmingham to buy the lease. He said: 'If you're going to that level, you need to invest an awful lot of money and you're taking money from what you could possibly spend on Birmingham.'
The site started running low-cost passenger flights in March 2004. Last month Warwick District Council gave a conditional approval to plans for a new passenger terminal at the airport. It agreed to an amended package of measures, including compensation for residents. A public inquiry, due to start in Leamington Spa in January, will decide whether the development goes ahead.
A spokesman for Birmingham International said the airport company would not comment on speculative reports.
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