Devon council picks Balfour Beatty’s investment arm and London City Airport to make £60m bid for Exeter International Airport
Balfour Beatty has announced today that its consortium company, Regional and City Airports, has been appointed preferred bidder to acquire Exeter and Devon Airport Ltd, which owns and operates Exeter International Airport. The bid values the airport at £60m.
Regional and City Airports is a joint venture between Balfour Beatty Capital, the group's investment arm, and London City Airport.
Commenting on the appointment today, Balfour Beatty chief executive Ian Tyler said: “We are delighted to have been selected by Devon County Council as preferred bidder to acquire Exeter International Airport. Our vision is that Exeter should become the airport of choice for the South-west region, based on the efficiency and quality of its operations.
“We have extensive experience of creating and operating successful infrastructure assets in the UK through the PPP process. We are also highly experienced as an airport infrastructure developer and are confident in accelerating the growth of the airport in years to come.”
The airport will be redeveloped with new terminal facilities, aircraft stands and in the longer term, further terminal capacity, stand and taxiway development.
Earlier this month, a Balfour Beatty joint venture, Connect Plus, was one of three consortiums short-listed to bid for to for a £5m contract to widen and maintain the M25 motorway, over a 30-year.