23-Jun-2010 9:48 AM

Vancouver Airport Services purchases 65% stake in Peel Airports

Canada's Vancouver Airport Services announced (22-Jun-2010) it has reached an agreement with UK's The Peel Group to acquire a 65% stake in Peel Airports Limited (PAL), which includes key airport assets of Liverpool John Lennon Airport (LJLA), Robin Hood Airport Doncaster Sheffield (DSA) and Durham Tees Valley Airport (DTVA). The Peel Group will retain a 35% investment in PAL and a presence on the board and looks forward to opportunities the strategic partnership with Vancouver Airport Services will generate. PAL owns 100% of LJLA and DSA and 75% of DTVA, with local borough councils owning the remaining 25%. Peel Airports announced (22-Jun-2010), following the successful completion of the Peel investment process, Mark Whitworth will step down from his role as CEO immediately. Mr Whitworth will assist Vancouver Airport Services in an advisory capacity for up to three months. [more - Vancouver Airport Services] [more - Mr Whitworth's resignation]

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