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Birmingham Airport to receive £18.5m council loan

Birmingham Airport to receive £18.5m council loan

Birmingham Airport will receive an emergency loan worth up to £18.5 million from the city council as the travel industry continues to suffer under the coronavirus lockdown.

The local authority has agreed to the funding support following what it called the most severe downturn in the airport’s history.

The seven councils of the West Midlands county own a 49 per cent stake in the airport, a further 48.25 per cent is owned by the Ontario Teachers’ Pension Plan and the remaining 2.75 per cent belongs to an employee trust.

Passenger volumes between April and December were down by 91 per cent, according to the airport.

Birmingham City Council’s cabinet approved its contribution at its meeting this week but opposition councillors have expressed concerns that even more funding might be required further down the line.

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