Gloucestershire Airport – shareholder statement

Cheltenham Borough Council and Gloucester City Council as joint shareholders have today confirmed that they have been unable to reach an agreement with Horizon Aero Group on the sale of Gloucestershire Airport.

The councils are disappointed that they were unable to accept the terms from Horizon Aero Group, which had moved significantly away from the original bid prospectus, and recognise that this news will be disappointing for many people who had hoped for immediate certainty about the future of the site.

The councils will continue to maintain close contact with operators and tenants to provide reassurance and keep them updated as work continues on alternative options.

During an extended period of negotiations and due diligence, as joint owners, both councils worked extensively to support the proposed sale, with the clear objective of securing the best possible long term outcome for residents, local businesses and the wider regional economy.

Councillor Rowena Hay, leader at Cheltenham Borough Council said:  ‘’It is our duty to deliver best value on the sale of the airport and of course after a long period of due diligence, we are disappointed that we couldn’t reach an agreement to deliver that and proceed with the sale to Horizon Aero Group.

‘’We fully appreciate the concern this will cause, particularly for those employed at the airport who will have worked hard to support the sale process.  As we move forward, we are committed to continued engagement with staff, operators, tenants and key stakeholders to discuss the future and reach a positive outcome for Gloucestershire Airport.’’

The leader of Gloucester City Council, Councillor Jeremy Hilton, said: “This news is clearly disappointing as the combination of a clear commitment to flying by Horizon, and the continued operation of aviation based businesses, would have provided a strong future for the site. I fully recognise that people hold different views about the potential uses of the site, but our responsibility is to take a measured, evidence‑based approach that leads to the right outcome for the long term."