THE owner of Durham Tees Valley Airport has admitted for the first time it could give up some of its stake in regional airports.

Peel Airports said it was looking for a “like-minded partner” to invest in its lossmaking airports division – which includes Durham Tees Valley Airport (DTVA), near Darlington.

However, it ruled out a sale of the airport in its entirety.

It is understood that a number of informal approaches have already been made, with Peel stating that it would be willing to give up a majority share.

Passenger numbers at DTVA fell 12 per cent last year and a number of airlines have also axed flights from the airport, including flyglobespan, Thompson, Wizz Air, and bmi, which pulled flights to Heathrow.

In a further blow, Peel last week lost a multi-million pound claim for damages against budget operator bmibaby, which it said was in breach of contract when it withdrew services in 2006.

In an interview with Crain’s Manchester Business publication, Neil Pakey, deputy chief executive of Peel Airports, said: “The key word is co-investor.

We are seeking co-investors.

“What we are doing is testing the market. We are not thinking of selling off any airports.”

Mr Pakey said plans to bring investors in had always been part of the company’s longterm plans and had not been a direct response to the economic downturn.

Ian MacKenzie, a regional organiser with the GMB union, said trouble had been “brewing”

at the airport and said staff were anxious about their futures.

He said: “Peel was going to turn the business round and there have been lots of promises and reassurances, but they have struggled.

“If any organisation came in with constructive plans and finance which could assist in a meaningful way – and if they had a track record in aviation which could bring custom into the airport – that would be good news.”