Airport Ownership
Leeds and Bradford councils jointly bought the airport site at Yeadon in 1930, which opened as Yeadon Aerodrome in 1931.
The airport became a limited company in 1987, and was shared between the five surrounding boroughs of Leeds (40%), Bradford (40%) and Wakefield, Calderdale and Kirklees (together sharing the remaining 20%).
In October 2006 plans to privatise the airport were confirmed when Bradford Council became the last of the five controlling councils to agree to sell off the airport to the private sector.
On 4 April 2007 the five controlling councils announced that Bridgepoint Capital had been selected as the preferred bidder. On May 3, 2007 Bridgepoint was confirmed as the buyer.
On 4 May 2007 Bridgepoint Capital acquired the airport from Leeds, Bradford, Wakefield, Calderdale and Kirklees councils for £145.5 million. Although Bridgepoint Capital own the airport 100% financially, the councils hold a "special share" in the airport, to protect its name and continued operation as an air transport gateway for the Yorkshire region. The new owners said they were to implement a £70 million capital expenditure plan, to focus on improving passenger and retail infrastructure in order to increase passenger capacity to 7 million per annum by 2015.
Read more about this topic: Leeds Bradford International Airport
Famous quotes containing the words airport and/or ownership:
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—Susan Sontag (b. 1933)
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—Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)