New Zealand infrastructure group Infratil has completed the sale of Prestwick airport to the Scottish government for £1 ($1.6).
The sale comes after Infratil failed to find any other buyers for the airport, which has been for sale since March 2012.
“Recognising the importance of the airport to the local communities and regional and national economy, Infratil’s preference has always been to secure a new owner with the capacity to support the future success of Glasgow Prestwick airport,” says Infratil chief executive Marko Bogoievski. “We believe that a Scottish government acquisition achieves that objective and Infratil is very pleased to have successfully completed the transaction.”
Prestwick is predominately served by low-cost carriers and is a secondary gateway to Glasgow. Ryanair also operates a base maintenance facility at the airport.
Infratil recently announced that Manston airport in England will be sold for £1 to a company controlled by Stagecoach founder Ann Gloag. That transaction is expected to be completed on 29 November.
Infratil is also the major shareholder in Wellington airport in New Zealand.