Welsh Government to buy Cardiff Airport

Who saw this coming?

Cardiff Airport will be bought by the Welsh Government, it has been announced.

First Minister Carwyn Jones revealed on Twitter today that a deal had reached with owners TBI to bring the struggling airport into public ownership.

TBI is a company owned by Spanish conglomerate Abertis (90%) and AENA (10%), the Spanish airports operator.

The nationalisation of the airport comes after a torrid few years which have seen declining passenger numbers and the loss of a number of key routes.

Mr Jones has spoken frequently of his dissatisfaction at the airport’s performance, which he labelled “not good enough” in March.

And in October, Plaid Cymru leader Leanne Wood called for a public stake in the airport.

The Welsh Government will now enter an exclusive period of due diligence that it said would take into account “financial, legal and vale for money considerations”.

Full story on WalesOnline today