Cllr Kevin Foster

Coventry City Council and Airport Development Partners (ADP) have announced they are entering into a partnership to secure the future of Coventry Airport. The Council has awarded ADP exclusive rights for the next four weeks to conduct due diligence work on the details of a lease agreement which could see the airport open for business again this Spring.

Airport Development Partners is a Geneva-based private company specialising in development at regional airports across Europe. The company's Chief Executive, Thomas Frankl has been in negotiations with council officers for the past few weeks, and is in Coventry this week to finalise the exclusivity agreement.

He said: "We're delighted to have been awarded exclusive rights for the next month, and we're very hopeful this is just the beginning of a long and fruitful partnership with the Council, businesses based at the airport and the people of Coventry.

"The Midlands are an economic powerhouse second only to London and Coventry Airport's potential to play a part in the region's economy is centred around business aviation and cargo and its attractiveness as a location for maintenance, repair and overhaul companies. For us the airport's central location, availability of qualified personnel and runway specifications are particularly attractive.

Cllr Kevin Foster, Conservative Parliamentary Spokesman for Coventry South, said: "This is welcome news and I hope the 2 parties will be able to finalise a deal quickly that secures the long term future of the Airport. Hundreds of local jobs rely directly on Coventry Airport and thousands more depend indirectly on the services it provides. At a time when the recovery is so fragile it would be devastating for many hard working Coventry families if these jobs were to disappear."

He added:"As a Councillor who represents an area next to Coventry Airport I am aware that the impact on local residents needs to be considered. I believe the best option for everyone is that a viable airport, able to provide jobs and support the economy, continues on the site with work done to eliminate the uses that have the most impact on the surrounding areas such as flights in the early hours of the morning. The likely alternative uses would create more traffic congestion and have a greater impact on local people."

Cllr Ken Taylor, Leader of Coventry City Council said: "I am delighted we've been able to grant ADP exclusivity and to work with them and we're now confident of securing a deal that will see the long term future of our airport in safe hands.

"Airport Development Partners have told us they want to develop the airport's substantial potential for business aviation, cargo, and maintenance, repair and overhaul operations, which is very good news for everyone in the city who wants to see a thriving airport here in the city.

"Clearly these are early days for ADP and any relationship they may have with us, but council officers who've been negotiating with them are impressed by their commitment to the airport and their plans for the future.

"A city like Coventry, with its ambitious plans for growth supported by a healthy local economy needs an airport with a future. With the city poised for another step change forward over the next decade as £9billion worth of regeneration and investment in the city takes shape, we're hoping this latest news is the first step on the road to achieving this."