Balfour Beatty preferred bidder for airport scheme

International engineering and construction firm Balfour Beatty said that its consortium company, Regional and City Airports has been chosen preferred bidder to acquire Exeter and Devon Airport, owner and operator of Exeter International Airport. The total consideration for the acquisition will be £60m.

Chief executive Ian Tyler, said: “Our vision is that Exeter should become the airport of choice for the South West Region, based on the efficiency and quality of its operations.”

The acquisition by RCA, a joint venture between Balfour Beatty Capital, the firm’s investment arm, and London City Airport, will be financed through equity of £30m, with Balfour Beatty acting as the leading investor.

The airport has a strong recent growth record and traffic and passenger growth is forecast to continue, helped by its status as an important base for Flybe.