A fresh bid is being launched to return Glasgow Prestwick Airport to the private sector.

A notice, inviting expressions of interest in the business, will be placed in the Official Journal of the European Union.

The airport was taken into public ownership in November 2013 to protect an important regional asset.

Scottish Financial News reported in August that before the COVID-19 pandemic struck, Prestwick was back in profit after making a £1 million loss. The airport reported an underlying operating profit of £3m, subject to audit, for the 12 months to March 31 this year.

Revenue for the period, before the worst of COVID-19 struck the UK economy, increased by 46% year on year to £36m, up from £24.6m.

Michael Matheson, cabinet secretary for transport, infrastructure and connectivity, said: “We believe there is still interest in Glasgow Prestwick Airport, so we are formally putting the business back on the market.

“Despite the recent setback in the previous sale process, the airport’s senior management team has continued to engage with potential buyers and a notice will shortly be placed in the Official Journal of the European Union inviting expressions of interest. This allows interested parties to submit formal proposals, and may encourage new interest as well.

“Any proposals would be considered carefully before any decision was taken to divest our shareholding in the airport or any part of the business.”

He added: “Glasgow Prestwick Airport continues to develop as a specialist airport, carving a niche in a very competitive market.  The recent financial results – showing an increase revenue and reduction in operating losses – are encouraging and underline the significant efforts of the Prestwick team. 

“This is an incredibly challenging time for the aviation industry, but we remain confident Glasgow Prestwick Airport has a role to play in Scotland’s aviation sector. As we have done throughout this process, we will update Parliament at the appropriate times.”