Government looks at options
Bidder pulls out of talks to acquire Prestwick
Prestwick: future uncertain
A preferred bidder for Prestwick Airport has pulled out, leaving questions about the future of the Ayrshire base.
The loss-making airport was taken into public ownership in 2013 to avoid closure.
Transport Secretary Michael Matheson has told MSPs that the preferred bidder – which was never named – “does not wish to complete the purchase”.
He indicated in a letter to Holyrood that the reason was linked to Covid-19’s impact on the aviation sector.
Daily Business reported last month that management remained confident of concluding talks with the potential buyer while admitting that an extension had been requested.
The airport reported a £3 million underlying operating profit following a £1 million loss in the previous year, while revenue in the year to the end of March increased by 46% year-on-year to £36m against £24.6m.
But the improvement came ahead of the lockdown which brought the aviation industry to a near-standstill.
Mr Matheson said today that Scottish ministers would “reflect upon future options for the business”.