The joint council owners of Gloucestershire Airport revealed that its proposed sale to an international aviation development group will not go ahead as planned.
Cheltenham Borough Council and Gloucester City Council released a joint statement this week, saying that they have been unable to reach an agreement with Horizon Aero Group for the sale of the airport.
The councils say they are 'disappointed' that they were unable to accept the terms from the group – a joint venture between UK-based tech firm Vayu Aviation Services and Indian construction company Vensa Infrastructure, established specifically to bring forward a long-term vision for the airport – which had moved 'significantly away from the original bid prospectus'.
They say they will continue to maintain close contact with operators and tenants to provide reassurance and keep them updated, as work continues on 'alternative options'.
The councils announced plans to sell the Staverton airport back in 2023, saying a capital injection was needed to help the aviation hub 'reach the next level'. It was put on the market with a guide price of £25 million in October 2024.
The shareholders revealed their preferred bidder for the airport as Horizon Aero Group in July last year, but speculation had grown in recent months that the deal could fall through, after a council-set deadline to complete the sale by the end of January 2026 was missed.
The statement adds the councils recognise the news will be 'disappointing' for those who had hoped for 'immediate certainty' about the future of the site.
It assures the public the joint owners worked 'extensively' to support the proposed sale, during an extended period of negotiations and due diligence, 'with the clear objective of securing the best possible long term outcome for residents, local businesses and the wider regional economy'.
Rowena Hay, leader of Cheltenham Borough Council said: 'It is our duty to deliver best value on the sale of the airport and of course after a long period of due diligence, we are disappointed that we couldn’t reach an agreement to deliver that and proceed with the sale to Horizon Aero Group.
'We fully appreciate the concern this will cause, particularly for those employed at the airport who will have worked hard to support the sale process. As we move forward, we are committed to continued engagement with staff, operators, tenants and key stakeholders to discuss the future and reach a positive outcome for Gloucestershire Airport.'
Leader of Gloucester City Council, Jeremy Hilton, said: 'This news is clearly disappointing as the combination of a clear commitment to flying by Horizon, and the continued operation of aviation based businesses, would have provided a strong future for the site.
'I fully recognise that people hold different views about the potential uses of the site, but our responsibility is to take a measured, evidence‑based approach that leads to the right outcome for the long term.'
