Taxpayers unlikely to see any repayment of Prestwick Airport loan


North East Liberal Democrat MSP Mike Rumbles has said that it appears unlikely that any of the £38.4m worth of public money loaned to Prestwick Airport will be repaid by a potential buyer, following questions put to the Scottish Government’s transport secretary this morning.  

The airport which has an annual turnover of around £36m is up for sale by the Scottish Government, after showing a profit this year for the first time in 13 years.

 

In a session of the Rural Economy committee this morning, the transport secretary told MSPs that negotiations with a preferred buyer are still ongoing but refused to admit whether or not the public loan to the airport would be repaid.

 

Mr Rumbles said: “The airport has only just met its operating costs for the first time in 13 years, it is very unlikely that any potential buyer would be willing to be saddled with over £38 million worth of debt. That is more than the entire turnover for the airport in a whole year.

 

“The Scottish Government should come clean about the true cost to the Scottish Taxpayer and make it clear that this loan will never be repaid.”

 

ENDS

 


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