WHEN five local authorities sold a controlling interest in Teesside Airport four years ago, officials insisted the deal was in the best long-term interests of taxpayers and the regional economy.

Without private sector investment, they warned, the airport near Darlington would struggle to keep pace with its regional rivals. Long term, the future looked bleak.

Under local authority control the airport limped along. A report for the new owner - Peel Airports - said of the main passenger terminal: "It has been subject to intermittent and sporadic growth on a 'needs must' basis over a number of years." That description could be used as a metaphor for the airport as a whole.

The Peel era started with a row over the airport's new name but, true to its word, the company has unveiled an ambitious redevelopment package.

If it goes ahead, the £56m investment will transform Durham Tees Valley into a serious competitor for Newcastle Airport.

If it doesn't, and nothing is done to address the passenger capacity ceiling likely to be reached next year, the business will stagnate. A moribund airport will have far reaching consequences.

Airports play a vital part in a vibrant regional economy. They attract business, create new jobs and open up foreign markets.

People who live nearby need to have their noise concerns fully addressed, and we acknowledge other people's environmental concerns over air travel.

But, if this region is to realise its full potential we need an airport to be proud of.