Just adding some detail to EF's post:
Airports UK (a division of British Airports International and part of BAA, as was) operated the airport from mid-80's to early 1990's and could not make any money except by extraction from SBC. They informed SBC they wanted out. Airport was under threat very real threat of closure in early nineties. Eventually a new operator, Regional Airports Limited, took the lease from the Council and in doing so saved the airport. After a few years, RAL persuaded SBC to sell off the retail park site to developers, whilst at the same time ring-fencing much of the money raised for the future possible re-development of the airport, to be released for such projects as the new railway station and control tower.
As I recall, RAL made a (small) profit for every year of their tenure but one, by the very close control of expenditure in line with income; it was not without difficult times.
However, thankfully it was recognised that in order to expand operations at the airport, that much capital injection would be required, at which stage RAL sold the airport lease to Stobart Group, leaving RAL with some cash to then develop their remaining airport at Biggin Hill.
Last edited by Red Four; 7th Jun 2019 at 07:43.
Reason: sp.