Latest news with #HorizonAeroGroup
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.
