Councils ‘may sell Newcastle Airport shares’
22.04.11
Sunderland and Durham Councils plan to sell their shares in Newcastle Airport, the Sunderland Echo reports. Seven North East councils own 51 percent of the airport. Copenhagen Airports, owns the remaining 49 percent, and has put its stake up for sale after its backers, Australian group Macquarie Bank, decided to withdraw from the sector.
The group of local authorities are reported to have called in accountancy firm KPMG to advise them in putting the airport on the market. A spokesman for the group, however described the reports as ‘market speculation’.
