Perthshire businesswoman Ann Gloag has snapped up an English airport for just £1.
Ms Gloag moved to snap up Manston Airport in Kent from Infratil. The airport currently operates five direct scheduled passenger flights to Europe, including a connection to Amsterdam Schiphol.
Manston is also the UK’s fastest growing freight airport and, just two weeks ago, Saudi Cargo Airline began a twice-weekly flight carrying fresh produce and flowers between Saudi, Kenya and the UK.
The airport is being disposed of by Infratil, which is in negotiations with the Scottish Government over the future of Prestwick Airport.
The company said it would recognise an £11 million impairment on the two airports in its half-year financial statements for the period to September 30.
Ms Gloag will pay an estimated further £350,000 for the hub on completion of the deal, which is expected on November 29.
She said: “I am delighted to have purchased Manston Airport from Infratil as I believe there is real potential for growth that has not been fully captured.”