Liverpool John Lennon airport (LJLA) has announced a major investment programme over the next five years after owners The Peel Group agreed a deal with lenders.
The parent company of the North West airport said the arrangement will “further support the strong operational performance” of LJLA.
There will be a reduction in the airport’s debt as well as funding to improve terminal buildings and expansion of facilities in line with future passenger and airline growth.
The announcement comes after LJLA saw passenger numbers rise 6 per cent for the first half of 2015 compared to the same period last year. For the financial year 2013/14 it made an operating profit of £2.4m.
Peel Group CEO Steven Underwood said: “We are delighted to have secured this new deal, which has allowed us to commit to the new investment programme.
“The future of Liverpool John Lennon Airport is strategically important to Peel, the wider city-region and, indeed, the Northern Powerhouse as a whole.”
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.”