Peel take control of Durham Tees Valley Airport
12.02.12
Peel Airports Limited has sold its 75% majority share holding in Durham Tees Valley Airport to Peel Investments (DTVA) Limited, the BBC reports. Peel Investments is owned by the Manchester based Peel Group. It sold a 65% stake in Peel Airports to Vancouver Airport Services in 2010, but has now bought Durham Tees Valley out of this arrangement.
The BBC says that the move will allow the airport to continue operational activities without change to workers or airlines, although whether this is the case long term is in some doubt. Peel Airports Limited has been asked by the Peel Investments to act in an advisory role to assist with the day to day operations at the airport.
For more on this airport news story visit: http://www.bbc.co.uk/news/uk-england-tees-16989400
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