Airport Sale May Be Bad News For Residents

Months of intense speculation over the future of George Best Belfast City Airport have now ended with news at the weekend that it has been sold.

The Spanish Ferrovial Group, which has its headquarters in Madrid, which bought the airport for £35m in 2003 has now completed a deal to sell it to a new owner.

It went for £132.5m and was purchased by the ABN AMRO Global Infrastructure Fund.

With the sale, the vendors have more than trebled their money in five years.

However, local residents, already concerned over noise and pollution levels may lose out.

Earlier this year it emerged that plans for a controversial runway extension in east Belfast's already busy facility at the George Best Belfast City Airport could be crucial to attracting a buyer.

The new owner will want to proceed with an application to enlarge the existing runway as a matter of urgency.

An outline planning bid is already well advanced, despite opposition from residents.

They are concerned because while Belfast City Airport only began commercial operations in 1983, this year, the airport is likely to be used by about 2.7m passengers with a runway extension increasing these numbers significantly.

Completion of the sale is expected to take place towards the end of September 2008.

Robin Newton East Belfast DUP MLA and a member of the Assembly's Enterprise Trade and Investment Committee said the sale of the George Best City Airport in these difficult economic times is a vote of confidence in the Northern Ireland economy.

"I am pleased that the sale of the airport has been concluded and it is gratifying that a number of bidders were willing to consider the purchase of the business.

"This is a valuable business asset not only for the east of the city but is now a major factor in the economic well-being of Northern Ireland's economy.

The airport's business prospects look good for the future and many employees, and small firms that supply the services, will breathe a sigh of relief that the negotiations have been successfully concluded."