Change of ownership at Newcastle Airport edging closer

There was speculation in 2024 that infrastructure investment manager InfraBridge was looking to sell its 49% stake in the airport. 

Saudi Arabia’s Public Investment Fund (PIF), which is the majority owner of Newcastle United Football Club and also has a stake in Heathrow Airport, was rumoured as a potential buyer in December last year.

The remaining 51% of the airport is owned by the seven local councils in Northumberland, Tyne and Wear, and Durham.

A series of confidential cabinet meetings had been due to take place at some of those authorities next week, at which it is understood that political leaders would be asked to consent to the sale of InfraBridge’s shares.

However, the identity of the proposed buyer has not been disclosed publicly at this stage.

An agenda for Northumberland County Council’s cabinet meeting on Tuesday, March 11, lists a report seeking to “endorse the Leader of the Council consenting as a Director of the Newcastle Airport Local Authority Holding Company Limited (NALAHCL) to the sale of shares from the existing private sector partner”.

Meetings had also been scheduled at North Tyneside, South Tyneside, Sunderland, and Durham councils where the future governance of the airport was to be discussed.

However, North Tyneside and South Tyneside’s were both cancelled on Friday. The Local Democracy Reporting Service (LDRS) understands that has been due to a delay in the sale process, rather than a collapse of the proposed deal.

The airport announced its best ever financial results last year, with total revenues increasing by 22% to £79.1m in 2023 and its operating profit growing by 36% to stand at £33.9m.

It was named the  overall winner at the World Routes Conference in 2024 and was crowned as the best in the UK and Ireland at the 2024 Travel Industry Awards.

The LDRS contacted Newcastle International Airport and local councils for comment.