Latest news with #GloucestershireAirport
ITV News
09-07-2025
- Business
- ITV News
New owner of Gloucestershire Airport revealed in multi-million pound sale as buyers target expansion
The new owner of Gloucestershire Airport has been revealed as Horizon Aero Group. The company is a joint venture between Vayu Aviation Services Ltd (UK) and Vensa Infrastructure Ltd (India). Horizon says its key aims are to drive job creation, upskilling the local workforce and enhancing the airport's role as a community and economic asset. Ramdev Polkampalli, chairman, Horizon Aero Group Ltd, said: 'We are honoured to be selected as the preferred bidder. "Gloucestershire Airport holds enormous promise, and we are committed to preserving its heritage while investing in its future. "We look forward to working collaboratively with both councils, airport staff, and local stakeholders to ensure a smooth and transparent journey toward completion.' The 375-acre Staverton airport was jointly owned by Cheltenham Borough and Gloucester City Council. The site was run by Gloucestershire Airport Limited which was established in 1993 - both councils had a 50 per cent shareholding. However, the two authorities revealed in November 2023 their intention to dispose of the site which has struggled commercially and needed a large investment expand its business parks. The councillors gave the go-ahead to sell the airport to new buyers at a full council meeting on 26 June. Councillor Rowena Hay, leader of Cheltenham Borough Council, said: 'The airport is a strategic asset for Gloucestershire. "We're encouraged by Horizon's community-first and sustainability-focused approach. "We want to reassure the public that any final deal will uphold the long-term aviation future of the airport and deliver clear benefits to the wider region.' Leader of Gloucester City Council, Councillor Jeremy Hilton, said: 'We were impressed by Horizon's enthusiasm for the airport and their clear recognition of its potential to play an important role in the economic growth of the region. "They share our vision of modernisation and building on it as a place to do business, in turn bringing huge benefits to the area.' Jason Ivey, managing director of Gloucestershire Airport, said: 'I have been really impressed with my interactions with the Horizon Aero Group during the sale process, as this is clearly a company that has the energy and a focussed vision for the future of Gloucestershire Airport. "My team and I are excited to work alongside Horizon during the due diligence phase to assist the airport in transitioning to new ownership.' The business park expansion are part of plans to modernise the infrastructure, focusing on safety, efficiency, and digital innovation in line with the UK's Net Zero targets. The airport sits on a 375-acre site and Horizon now has planning consent for an additional 30,000 square metres of business space. The council-owned airport in Staverton is said to have achieved more than its £25million asking price but the exact amount is not being revealed.
BBC News
09-07-2025
- Business
- BBC News
Gloucestershire Airport's new buyers share plans for site's future
Company bosses set to take over Gloucestershire Airport say they want to unlock the site's "full potential while aligning with the goals of the community". Gloucester City Council (GC C) and Cheltenham Borough Council (CBC), which jointly owned the site, announced on Wednesday that Horizon Aero Group will take over control of the 375-acre (142-hectare) Staverton Pemmireddy, CEO of Horizon, said: "Our priority is to build strong local relationships, maintain seamless operations, and begin laying the groundwork for future investment."Jeremy Hilton, leader of GCC, added that Horizon "shared [the council's] vision for the site's modernisation". Horizon is a joint venture between Vayu Aviation Services and Vensa Infrastructure, respectively British and Indian companies. The council said once due diligence checks have been completed, Horizon will take over the airport's company's bid is above the £25m guide price for the site, which has two business parks and planning permission for an additional 30,000 sq m (322,917 sq ft) of business leaders decided to sell Gloucestershire Airport as it required significant investment to secure its Hay, leader of CBC, said: "We're encouraged by Horizon's community-first and sustainability-focused approach. "We want to reassure the public that any final deal will uphold the long-term aviation future of the airport and deliver clear benefits to the wider region."Several months of checks will now be undertaken, with the sale expected to be completed by 2021, the two councils borrowed £7.5m to revamp the airport, which included closing one of three runways to make way for a new business councils plan to use money from the sale to pay off some of their debts.
BBC News
27-06-2025
- Business
- BBC News
Gloucestershire Airport to be sold for more than £25m
Gloucestershire Airport will be sold for more than it's £25m guide price, councillors have of Gloucester City Council (GCC) gave the final go-ahead to the unnamed preferred bidder at a meeting on Thursday evening, pending due diligence by GCC and Cheltenham Borough Council, the 350-acre airport in Staverton was put on the market with a guide price of £25m in October 2024, and in the meeting it was revealed that the selected bidder had offered above that leader, Jeremy Hilton, said he was "confident" that the new owners would make a success of the site, adding: "We've done everything we possibly can." Several weeks of checks will now be undertaken, with the sale expected to be completed by identity of the buyer is expected to be revealed next week, according to the Local Democracy Reporting at both authorities and the airport itself have stressed the site is being sold as a going some councillors and campaigners have raised fears about the viability of the business and the potential for the land to be sold for housing in the future. Airport 'needs investment' Hilton said a "robust" covenant would be put in place to prevent the land from being developed on, and this would likely last for 50 said Gloucestershire Airport was more likely to survive as a result of the sale compared to if the councils continued to run it."We know the airport is running at a loss and has been for a number of years," he added."They have not paid the councils a dividend for as long as I can remember. They need substantial investment."Two Community Independent councillors argued the land should be sold to build up to 12,500 Andrew Bell said: "We need houses… this is our perfect chance."However, members voted to go ahead with the sale by 25 votes to two.
BBC News
18-06-2025
- Business
- BBC News
Preferred buyer found for Gloucestershire Airport £25m sale
A preferred bidder has been found to buy a £25m airport and attract new City and Cheltenham Borough councils jointly own Gloucestershire Airport, which was put up for sale in October last identify of the bidder, who is set to take over the 350-acre site at Staverton, is yet to be City Council leader Jeremy Hilton said the bidder "shares our vision of modernising the airport and bringing real benefits to the area and to local people". The airport is mainly used for private and commercial flights, training and clubs - and brings in more than £50m each year to the local the councils will vote separately on 26 June on whether to approve the preferred bidder and move the proposal City Council said part of the plans include expanding the site's business Borough Council leader Rowena Hay said: "We recognise the significant contribution that the airport makes to the regional economy and now is the right time for a new owner to drive this forward.''Jason Ivey, managing director at Gloucestershire Airport, said: "This not only secures current jobs, but also lays the foundations for new jobs creation and infrastructure development."Part of the sale of the airport, which was built in the 1930s, will be used to pay off any outstanding debts to the two councils from a recent refurbishment of the site.
Yahoo
01-06-2025
- Business
- Yahoo
Airport boss says site will not be 'sold for housing'
The managing director of a £25m airport which is up for sale has dispelled concerns small operators are being "pushed away" and "the site will be sold for housing". A decision on the sale of Gloucestershire Airport, which is jointly owned by Cheltenham Borough and Gloucester City Council, is due in late June. The Local Democracy Reporting Service said there had been concerns over the years the site, once sold, could be carved up for housing. It added people working at the airport had expressed their concerns over rising costs and fears there was a concerted effort to get small operators off the airfield. Jason Ivey, managing director, rejected the claims and labelled them "mischief making". More news stories for Gloucestershire Listen to the latest news for Gloucestershire He explained that landing fees had increased because the airport was running at a loss and could not afford such cheap rates. Mr Ivey, who has also been in talks with potential buyers for the site, also said there would be strong clauses which would prevent the site from being used for anything other than aviation. "The people running the airport are currently trying to get all the small operators off the airfield and run down the business most likely so they can sell off the land for housing development," an airport worker, who did not wish to be named, said. She said small flights schools had concerns and feared some of the aviation schools would no longer be able to operate there. "It's killing the small businesses. It's getting to the point where it's very ridiculous." Mr Ivey refuted those comments. "It's disappointing to see that," he said. "We don't want to run the operators off. Are we making changes which are not always palatable, yes, we are, but we absolutely aren't trying to force people out." Mr Ivey said the airport is being sold as a going concern and there will be requirements in the sales particulars which will prevent or massively deter anyone from operating anything there other than an airport. He said he believed there would be a clause in the sale which would mean if the new owner tried to do anything other than keep it as an operational airport there would be financial penalties. He added the airport had financially assessed all of the would-be bidders and had streamlined it down to two preferred bidders. Follow BBC Gloucestershire on Facebook, X and Instagram. Send your story ideas to us on email or via WhatsApp on 0800 313 4630. Airport's £25m sale to wipe debt to two councils 'Vital' airport being sold to help site grow Runway to close for new business park Local Democracy Reporting Service
