The Peel Group, owner of Liverpool John Lennon Airport in the northwest of England, has agreed a five-year investment program with lenders to expand the airport’s terminal and support future operations.
Peel’s new arrangement will reduce the airport’s bank debt and will allow for future terminal refurbishment works and expansion of facilities in line with future passenger and airline growth. Liverpool John Lennon Airport has experienced a 6% increase in passenger numbers in the first half of 2015 compared with the same period in 2014.
Steven Underwood, chief executive of The Peel Group, said, “We are delighted to have secured this new deal, which has allowed us to commit to the new investment program. The future of Liverpool John Lennon Airport is strategically important to Peel, the wider city-region and, indeed, the Northern Powerhouse as a whole.
“We have invested more than £100m (US$156m) in the airport over the last 15 years and have overseen a transformation in the business. We will continue to work closely with all the airport’s stakeholders to ensure its continued success.”
Andrew Cornish, CEO of Liverpool John Lennon Airport, said, “This is an exciting time for the airport and Peel’s latest commitment will help to ensure that while continuing to grow the business further by offering our passengers more choice of airlines and destinations, we can give them the best possible passenger experience too, cementing our position as the airport the region loves.”