Eastern Airways, a UK-based airline, has acquired a majority ownership in UK-based Humberside Airport.
The Manchester Airport Group (MAG), the UK based holding company that owns Humberside Airport, has sold its 87.2 percent stake in the property to the Eastern Group, the holding company for owners of the regional carrier, Eastern Airways. It has been reported that there will be no change in the current management on completion of the sale.
North Lincolnshire Council, which is a minority stockholder in Humberside Airport, will be retaining its share in the facility.
Manchester Airport Group (MAG) currently owns Manchester, East Midlands and Bournemouth Airports in the UK.
The chief executive officer for MAG, Charlie Cornish, said, ‘MAG has believed for some time that the best long-term operational model for Humberside Airport was with a new owner that could focus on taking the business forward into the next phase of its development.
The Eastern Group specialises in aviation related activities and we are delighted that our former colleagues at the airport will now have a new owner who can concentrate on developing the business.’
Humberside Airport has reported annual passenger traffic of 275,000, and its operations include scheduled and charter passenger services, freight, as well as heliport facilities.
Bryan Huxford, the chairman of Eastern Group, said ‘We are making a strategic financial investment acquiring Humberside Airport. The airport has potential for growth, and under the present airport management team, supported by Eastern Group, will develop in accordance with the business plan already in place.’