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A loss of £150M on the M4 and just how many million has Welsh Labour lost on Cardiff Airport so far?

In May 2013 the Guardian reported Spanish owner Abertis sells struggling Cardiff Airport to the Welsh government for £52m where passenger numbers have halved. 

The purchase price of £52m paid by the Welsh government which is well above market value when compared to recent transactions involving UK airports gives concern that ongoing government involvement and support is highly likely.

 

So what happened to your money the Welsh government put into the loss-making airport?

 

Walesonline report in March 2021 that the £52 million Cardiff Airport is now worth just £15m after a series of debts were written off – less than a third of what the Welsh Government paid for it eight years ago.

 

Cardiff Airport makes pre-tax losses of £6.6m 2018

Cardiff Airport posts £18.5m pre-tax loss 2019

 

Business Live report on the 3 March 2021 that that opposition party say, Labour ministers have just announced another £42.6m grant for its government-owned airport, and written off £42m plus of its debt. At a time when they’re refusing to support small Welsh firms, I find this astonishing. Labour’s priorities are all wrong.

 

"There is no reason why a publicly-owned national airport for Wales could not be far more successful than the airport in its present state," said party leader at the time Leanne Wood.