18-Apr-2011 1:19 PM

Rising debt forces Newcastle airport sale: reports

UK’s Newcastle Airport has reportedly stated it has been put up for sale as local authorities that control it look to reduce ballooning debts (The Sunday Times/MarketWatch, 17-Apr-2011). Seven local authorities, which have a 51% stake in the airport, have reportedly appointed KPMG to advise them before debt repayments are due. A GBP320 million repayment is due in Dec-2013 on a loan the airport took on in 2006. The Sunday Times also reported that Copenhagen Airports, which owns the remaining 49%, is also keen to sell.