Manchester Airports Group (MAG) has appointed PricewaterhouseCoopers (PWC) as part of the group's review of its majority shareholding in Humberside Airport. A spokesman for MAG said PWC will act on its behalf in exploring a possible transfer of ownership of Humberside Airport.
MAG has an 82.7 percent stake in Humberside Airport, which it bought in 1999 for £10m. It has since invested £7m upgrading the infrastructure of the airport. However, it is reported to have decided that the prospects for the hub, where passengers have stagnated at 0.5m a year, do not match its ambitions and that it should focus on its other airports - Manchester, East Midlands and Bournemouth.
The review, which began in April, will consider all the options to secure the best long-term future for Humberside Airport including a sale, the MAG spokesman said. The review and any future decisions about MAG's stake in Humberside Airport are expected to be completed by the end of 2008. |
