The future of Durham Tees Valley Airport is in the spotlight after the airport’s majority shareholder, Peel Airports Ltd, asked the six local authority shareholders for cash to maintain their shareholding at current levels.
Peel has informed the six councils that their 25% shareholding will be diluted to 10.8% unless they collectively pay £4.3m. The dilution proposal is based on the investment that Peel has made in the airport.
The airport made a loss of over £2m in 2010/11...
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