Exeter Airport sold as part of major investment

ICG purchases Exeter Airport to enhance passenger and cargo capacities.

Exeter Airport acquisition signals growth potential

ICG has acquired Exeter Airport for £200 million, aiming to expand both passenger and cargo operations. The airport, currently managing up to 800,000 passengers annually, is projected to increase this capacity to 1.2 million without significant structural changes. Mr. Wiltshire highlighted that existing flight routes are largely full and new routes and aircraft could boost numbers significantly. Recently, the airport has added daily flights to Amsterdam. Despite the changes, staffing levels are expected to remain stable for the 230 employees, ensuring continuity for both employees and customers. The transaction, expected to close soon, marks a pivotal growth opportunity for RCA, the airport operator, according to co-CEO Steve Rigby.

This acquisition comes at a time when regional airports are seeking opportunities for expansion amidst rising demand. The focus on enhancing flight routes and services indicates a strategic vision that aligns with contemporary travel trends. While the current workforce will continue unaffected, the emphasis on expansion may eventually lead to an increase in job opportunities and further development of the local economy. This deal reflects a growing confidence in the regional aviation market, which could inspire similar investments in other areas.

Highlights

Future developments at Exeter Airport could reshape regional travel dynamics.