Plymouth City Airport set to close
Today the Sutton Harbour Group, which owns Plymouth City Airport, has announced that it intends to cease the operation of the airport by the end of 2011.
The company says, "Plymouth City Airport has been loss making for a lengthy period of time and the Board has concluded there is no realistic prospect of trade improving in the near future.
"Plymouth City Airport Limited, a wholly owned subsidiary of the Company, holds a 150 year lease agreement with Plymouth City Council for the airport (143 years unexpired at a peppercorn rent). The Company will retain the lease following the closure of the airport.
"In line with its stated intention the Company is focused on waterfront regeneration and developing new opportunities closely related to its core marine and regeneration activities."
It is understood that the airport's failure is due to the high cost of operation compared with limited airport usage.