First Bus was yesterday selected as preferred bidder to take a 51% stake in the privatisation of Bristol Airport.
Bristol City Council is to retain a 49% stake. The bus and rail group is thought to have bid about £40m but no figure for its stake was disclosed.
Others on the shortlist included National Express, TBI and a consortium of John Laing and Ogden Aviation. Bristol is the 13th largest airport in the UK. It reported profits of £5m on turnover of £25.5m for the year ending March 1997. It will have to support halve of a £40m development plan aimed at boosting passenger capacity to 3m a year.
- The Times 12/11/97 page 9
