Property group TBI has dropped plans to buy Coventry Airport from Coventry City Council after 18 months of talks. TBI was not prepared to make the level of investment required by the Council.
The bid was linked to a plan by Royal Mail parcels business Parcelforce to build a £100m international distribution centre at the airport.
Other potential bidders include National Express, which owns airports at East Midlands and at Bournemouth. TBI is said to be thinking about bidding for airports at Newcastle and Bristol. The company already owns airports at Cardiff and Belfast City.
- The Daily Telegraph 29/07/97 page 24
- The Times 29/07/97 page 25
- Financial Times 29/07/97 page 16
