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Cardiff Airport is sold to the Welsh government for £52m Cardiff Airport is sold to the Welsh government for £52m
(35 minutes later)
Cardiff Airport has been sold to the Welsh government for £52m, it has been confirmed.Cardiff Airport has been sold to the Welsh government for £52m, it has been confirmed.
More to follow. But First Minister Carwyn Jones said the airport, which was owned by TBI, would not be operated by the government.
It will be managed "at arm's length" and "on a commercial basis", he added.
Mr Jones has been critical of the airport after a slump in passenger numbers from a peak of two million in 2007 to just over one million in 2012.
He said it was vital for the number of passengers to be increased.
"Cardiff Airport is a vital gateway to Wales for business, tourists and general travellers alike," he said.
"It is essential that its future is secured and that we develop high quality sustainable services.
"The airport will not be operated by the Welsh government. It will be managed at arm's length from government on a commercial basis and, over time, I expect to see a return to the public purse on the investment.
"A chief executive of the airport will be announced in due course. In the meantime, I am delighted that Lord Rowe-Beddoe has agreed to serve as chairman of the airport board."
In the longer term, the board will look at the possibility of bringing in a commercial operator to run the airport.
Mr Jones said the Welsh government had been contacted by a number of interested operators but there would be an open and transparent process before any decision was made.
The airport's existing staff will remain.