Business case for Durham Tees Valley Airport outlined
0Tees Valley mayor Ben Houchen presented his business plan yesterday for bringing Durham Tees Valley Airport back into public ownership.
Houchen announced last year a £40m deal to buy the airport and surrounding land from the Peel Group.
Without the intervention, the airport faces the risk of closure after 2021.
The plan anticipates attracting up to 1.4 million passengers by 2029 and returning to the airport to profit.
The five Tees Valley council leaders will vote on the plan next Thursday, with a unanimous vote needed to give the go-ahead.
Houchen was elected mayor on a promise to buy the airport.
Houchen’s plan says “If the Labour council leaders reject this plan on 24th January, we will be the only major urban area in the United Kingdom without an international airport.
“History will not be kind to those who let emotions and personal politics get in the way of what the people voted for and rightly demand”.
Houchen claims that the land acquired with the deal is alone the worth the price he is proposing to pay.
“Worst case scenario and the airport closes in 15/20 years’ time, we’ll recoup every penny of initial investment”.
