Stobart to take over management of Durham Tees Valley airport

OLIVER CLARK | March 15, 2019

Stobart to take over management of Durham Tees Valley airport
Stobart is to take over the management of UK regional airport Durham Tees Valley under a 10-year joint venture agreement with the local authority that owns the facility. Durham mayor Ben Houchen states that the logistics group has been tasked with delivering a "rescue plan" under which passenger numbers will need to reach 1.4 million per annum and a low-cost carrier must be secured by 2022.The facility returned to public ownership in December 2018 when The Peel Group agreed to sell its 89% share in the airport along with 819 acres of surrounding land to Tees Valley Combined Authority for £40 million

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The #electric #E-Fan training aircraft is a highly innovative technology experimental demonstrator based on an all-composite construction.

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