The UK Mayor of Tees Valley, Ben Houchen, has announced that Durham Tees Valley Airport will officially go into public ownership.
According to media sources, the airport was bought from Peel Holdings and several leaders from across five councils voted in favour of the airport being publicly-owned.
Peel Holdings said: “We welcome the decision of the Tees Valley Local Authority leaders to support the proposal by the Mayor to create a business plan designed to develop the economic benefits of the regional economy and its communities, by securing the future of Durham Tees Valley Airport.”
“We have been working hard with the Mayor to ensure a smooth transition once the sale has been concluded. Following today’s decision, we will continue to work with the Mayor and the Combined Authority to assist in completing the process.”
According to the BBC, the Mayor said the £40 million purchase of Tees Valley Airport would give clarity on its future. He said it was a way for Teesside to take back control of its future.
The deal also includes 819 acres of land, for which planning permission for 350 homes has already been granted.
Photo credit: Airports International