Prestwick sale still grounded

INTEREST in Ayrshire’s airport has yet to take off as Glasgow Prestwick remains unsold.

New Zealand-based infrastructure investment firm Infratil announced in March that it was to sell off Prestwick airport, which was bought 11 years ago for more than £33 million, along with Manston Airport in Kent as part of a refocusing of its investment profile.

But progress with the sale of the airport, which is currently thought to be worth £14.3m, seems to have stalled.

In its half-year results, published on Wednesday, it said: “The sales process for both the Glasgow Prestwick and Kent airports has been unsuccessful to date and as a result Infratil took an impairment charge of 43.9 million New Zealand dollars (£22.5 million) at the half year to write-down the value of both assets.

“The European airports are continuing to operate in a cost minimisation basis. The current intention is to continue to seek a buyer for the airports and work with local stakeholders to review alternatives.”