Balfour Beatty, the international engineering, construction, services and investment group, announced today that Regional and City Airports (RCA), its specialist airport investment and development group, has agreed to acquire 95% of Blackpool International Airport for £14 million in cash.

The airport is being sold by Mar Properties, a large Northern Ireland-based property developer, and the transaction is subject to receiving the approval of the remaining minority shareholder, Blackpool Borough Council. The Council is supportive of the transaction, and this approval is expected to be received by 9 May 2008.

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Blackpool International Airport is situated one mile south of Blackpool town centre and has excellent road and rail links which provide fast access to the North West. Its current key customers include Jet2.com, Ryanair and Manx2.com and it provides an established base to a range of other air carriers and related aeronautical businesses. The airport is forecast to handle about half a million passengers in 2008, flying 12 routes to the UK, Ireland, Isle of Man and mainland European destinations.

Commenting today, Balfour Beatty Chief Executive, Ian Tyler, said: "Blackpool International is a well-located airport with the potential to become a thriving international gateway to Lancashire and Cumbria. We will work together with the airlines and our local partners to help increase its penetration within this core catchment area and to play its part in attracting inbound visitors to the region. We believe that our approach will deliver significant, sustained growth in passenger traffic at the airport and will generate important economic benefits for it and for Blackpool. Our aim is to develop Blackpool to be the airport of choice for residents, businesses and visitors of Lancashire and Cumbria."

(CD/NS)