Doncaster Airport could be profitable within five years of reopening, according to a new report.
The papers were prepared for Doncaster Council Cabinet members ahead of a meeting next week to discuss the future of the airport which closed a year ago after owners Peel Group revealed it had never been profitable. Now assessments of the project to reopen the airport – South Yorkshire Airport City – say it could attract up to 2m passengers within a decade.
The Council says it has had a series of meetings with landowners Peel to acquire a lease for the site and hopes to find an operator by Spring next year. But meanwhile it has threatened a compulsory purchase order as an “option of last resort”.
The Council says informal enquiries suggest there are “multiple” potential private sector firms interested in operating the airport on a leasehold or freehold basis. An engagement event held in July this year brought forward as many as 15 interested parties.
Now, at an extraordinary meeting of Doncaster Council Cabinet, members are being asked to support relevant approvals to progress works necessary for reopening of the airport. In the papers the Council acknowledges that significant up-front investment will be needed to get the project off the ground as private investors are unlikely to be able to access debt finance.
Mayor Ros Jones said: “Saving the airport is critically important for Doncaster and South Yorkshire. I know the amount of support there is in our city and across the region. I am looking forward to discussing progress to date with Cabinet members and hearing about next steps.
“I am hopeful that I will soon be able to share some good news about a lease agreement for the site. I know council staff have been working extremely hard since the announcement of the strategic review in July 2022 and indeed over the summer period to get us in as good a position as possible to have a fighting chance of saving our airport.”
Original artice – https://business-live.co.uk/all-about/yorkshire-humber