Loss-making airport to go back on the market

An airport is back on the market four months after a previous sale collapsed, it has been announced.

Cheltenham Borough Council and Gloucester City Council confirmed the move to attempt another sale of Staverton-based Gloucestershire Airport, which has cost taxpayers millions of pounds in recent years.

The airport's manager were quizzed by councillors on Monday night but would not explain publically why the airport, which sees 66,000 aircraft movements a year, was unable to make money.

A slide presented to the committee suggested an unaudited loss for the financial year, including depreciation and loan interest, of £2.1m.

It also showed the situation has been improving over the last three years, according to the Local Democracy Reporting Service.

The two councils decided to sell the 350-acre site with an asking price of £25m last year as it needs a large investment to be able to continue to operate and expand.

However, despite agreeing on a preferred bidder for the site, the deal fell through earlier this year after terms moved significantly away from the original proposal.

Operational losses, excluding non-monetary adjustments, loans and depreciation, in 2024 were £1,333,041, down to £738,030 in 2025 and £489,979 in 2026.

Chairman Andrew Gravells of Gloucester City Council said: "So the actual loss when everything is taken into account is £2.1m?"

Marian Bidmead, head of finance at the airport, explained the accounts were unaudited and it could be more or less than £2.1m because they "have fair evaluations on the market rentals to do as well and capitalised interest to take into account on top of that".

Gravells responded: "That's the hit that the city council and Cheltenham Borough Council are having to take?"

Bidmead confirmed this was the case.

Gloucestershire Airport Limited refused to answer questions about taxpayers footing the bill for the site during the public section of the meeting.

The committee then voted to exclude the press and public to further discuss airport issues behind closed doors.

The councils have appointed Savills to lead a renewed sales process of the airport.

Rowena Hay, leader of Cheltenham Borough Council, said: ''We are hopeful this renewed sale process will attract the right partner for the airport's future, which remains our key priority.

"We will work with partners and stakeholders to update as the new sale process proceeds.''

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