finance

Preferred bidder pulls out of planned Prestwick Airport takeover move



A possible buyer for Glasgow Prestwick Airport has pulled out of a deal to purchase the site from the Scottish Government.

While ministers confirmed last year a preferred bidder for the airport had been found, Transport Secretary Michael Matheson said he had now been advised that they did “not wish to complete the purchase of the business at this time”.

It comes as the travel and air industries have been left struggling in the wake of the coronavirus pandemic.

Matheson, in a letter to Holyrood’s rural economy and connectivity committee, referenced this, saying “Covid 19 has impacted on the aviation sector globally”.

In these circumstances he said the Government “have been advised that the company selected as preferred bidder does not wish to complete the purchase of the business at this time”.

The Scottish Government had been seeking to sell the airport, where 300 people are employed directly with a further 1,400 jobs being supported, after buying it for £1 in 2013, taking its ownership into public hands.

With the preferred bidder now not proceeding with the sale, Matheson said “Scottish ministers will reflect upon future options for the business”.



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