Airport's new buyers share vision for site's future

Company bosses set to take over Gloucestershire Airport say they want to unlock the site's "full potential while aligning with the goals of the community".

Gloucester City Council (GC C) and Cheltenham Borough Council (CBC), which jointly owned the site, announced on Wednesday that Horizon Aero Group will take over control of the 375-acre (142-hectare) Staverton airport.

Soma Pemmireddy, CEO of Horizon, said: "Our priority is to build strong local relationships, maintain seamless operations, and begin laying the groundwork for future investment."

Jeremy Hilton, leader of GCC, added that Horizon "shared [the council's] vision for the site's modernisation".

Horizon is a joint venture between Vayu Aviation Services and Vensa Infrastructure, respectively British and Indian companies. The council said once due diligence checks have been completed, Horizon will take over the airport's ownership.

The company's bid is above the £25m guide price for the site, which has two business parks and planning permission for an additional 30,000 sq m (322,917 sq ft) of business site.

Council leaders decided to sell Gloucestershire Airport as it required significant investment to secure its future.

Rowena Hay, leader of CBC, said: "We're encouraged by Horizon's community-first and sustainability-focused approach.

"We want to reassure the public that any final deal will uphold the long-term aviation future of the airport and deliver clear benefits to the wider region."

Several months of checks will now be undertaken, with the sale expected to be completed by autumn.

In 2021, the two councils borrowed £7.5m to revamp the airport, which included closing one of three runways to make way for a new business park.

The councils plan to use money from the sale to pay off some of their debts.

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