Newcastle International Airport has received a €270 million refinancing package from a consortium of banks.
The refinancing package – which includes €62 million from The Royal Bank of Scotland Corporate & Institutional Banking – follows the purchase of Copenhagen Airport’s 49% stake in Newcastle by AMP Capital.
The 51% majority stake remaining belongs to seven North East local authorities, collectively known as LA7.
The airport has ambitious expansion plans, including the development of Newcastle International Business Park, which has a projected one million square feet of business space.
It has also recently completed the construction of a €4 million terminal development, focussed on improving passenger service through security.
Simon Fisher, finance director at Newcastle International Airport, said he was “delighted” that the refinancing deal had been finalised.
He added: “This loan package will help to secure our future and allow us to continue our growth.”
The airport is the largest in the region and handles more than four million passengers a year.