Sale of Gloucestershire Airport falls through after months of negotiations

The sale of Gloucestershire Airport has fallen through after eight months of negotiations the owners have confirmed.

The site was due to be sold to Horizon Aero Group, the preferred bidder but owners Cheltenham Borough Council and Gloucester City Council say that negotiations have now broken down putting the future of the airport in doubt.

Councillor Rowena Hay, leader of Cheltenham Borough Council, said: ‘’It is our duty to deliver best value on the sale of the airport and of course after a long period of due diligence, we are disappointed that we couldn’t reach an agreement to deliver that and proceed with the sale to Horizon Aero Group.

‘’We fully appreciate the concern this will cause, particularly for those employed at the airport who will have worked hard to support the sale process. As we move forward, we are committed to continued engagement with staff, operators, tenants and key stakeholders to discuss the future and reach a positive outcome for Gloucestershire Airport.’’

An initial sale price of £25m had been put forward but it is understood the final offers from Horizon Aero Group had moved significantly away from that which led to the collapse of the negotiations.

Situated between Gloucester and Cheltenham. The airport serves general aviation flying as well the business aviation sector.