Oxford Airport Sold to Private Investors

 - July 30, 2007, 10:58 AM

Signature Flight Support parent BBA Aviation sold Oxford Airport in the UK to private investment group OA Acquisitions for £40 million ($80 million) late last month. The new owner is part of the Aldersgate Investments group, controlled by multi-millionaire British real estate developers David and Simon Reuben. The brothers declined to comment on their intentions for the airport, which has been trying to attract more business aviation traffic. According to BBA, the sale earned a £24 million ($48 million) profit. BBA bought the airport in March 2000 for £55.4 million. Last year the airport generated £4.5 million in revenues and an operating profit of £300,000. In mid June, BBA also sold its Oxford Aviation Training business for £32 million ($64 million) plus an additional £5 million ($10 million) in “retained cash.”