Prestwick Airport bid ‘did not secure value’
Finance Secretary Kate Forbes has revealed that bids for state-owned Prestwick Airport were rejected as they would not secure value for the taxpayer.
Ministers have been looking to sell the Ayrshire facility which was acquired for a nominal £1 in 2013 to save it from closure.
But it was taken off the market before Christmas after the Government ended talks with a potential undisclosed buyer.
Speaking in Holyrood, Ms Forbes said there had been bids from credible investors. “However, following careful consideration of a recommendation by the Prestwick board, we decided not to proceed with the sale, at this time,” she said.
“It is still our intention to return Prestwick airport to the private sector at the appropriate time and opportunity. Any decision must be informed by what is right for the long-term success of the business and the contribution that it makes to the local economy.”