Exeter Airport sold
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Balfour Beatty has sold off its majority stake in Exeter Airport to Patriot Aerospace.
The 60% stake was agreed for an undisclosed sum.
Balfour Beatty had bought the airport in 2007 for GBP60 million from Devon County Council and sold a 40% holding to Galaxy Fund.
“We are pleased to have come to an arrangement with our JV partner and the funders that ensures the future viability of the airport for its staff and the local community it serves,” said Andrew McNaughton, chief executive at Balfour Beatty.
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