The planned sale of Gloucestershire Airport has fallen through after protracted negotiations between Cheltenham Borough Council, Gloucester City Council, and the preferred buyer, Horizon Aero Group.
Despite initial agreement on a sale exceeding the £25 million asking price, the deal unraveled as Horizon Aero Group’s terms shifted significantly away from the original bid. This led to delays, missed deadlines, and ultimately the collapse of the transaction.
Councillor Rowena Hay, leader of Cheltenham Borough Council, expressed the councils' disappointment but emphasized their duty to secure the best value for the sale. “After an extensive period of due diligence, we were unable to finalize an agreement that met our requirements,” she said. “We fully appreciate the concern this will cause, especially among airport employees who have supported the sale process. Moving forward, we are committed to engaging with staff, operators, tenants, and stakeholders to shape a positive future for Gloucestershire Airport.”
READ MORE: Anger Grows as Cheltenham Maternity Unit’s Temporary Closure Nears Four Years
READ MORE: Cheltenham Festival ‘St Patrick’s’ Thursday in Pictures
Similarly, Councillor Jeremy Hilton, leader of Gloucester City Council, acknowledged the setback: “This development is disappointing. Horizon’s commitment to aviation and continued operation of businesses on site would have offered a strong future. However, our responsibility is to make a balanced, evidence-based decision that supports long-term outcomes for the airport.”
The councils now aim to explore alternative strategies for the management and development of Gloucestershire Airport to ensure its continued operation and contribution to the region.