THE region's second largest airport is to branch out into the private sector in a bid to secure crucial future investment.

Teesside Airport has revealed that it plans to invite proposals from potential private partners to drive forward its long-term development.

The airport, which handles about 750,000 passengers a year, is jointly owned by five local authorities.

It has already announced a £6m partnership with regional development agency One North East for new infrastructure projects including a road improvement scheme on the A66 at Long Newton which should begin later this year.

The airport will now consult with its shareholder authorities over the latest move.

Managing director Hugh Lang said: "As part of the partnership agreement reached between the Airport and One NorthEast last year it was agreed to ask consultants to review and validate the work completed by ourselves in assessing the Airport's development needs to deal with forecast growth to 2015 and beyond.

"What we are now dealing with is the best way of generating the investment to deliver the improvements required on a timely basis.

"I believe that the most viable option is to seek the involvement of a private sector partner on a long-term basis who has experience of public and private partnerships and a working knowledge of the airport industry."

Stockton Council Chief Executive George Garlick said the proposal was based on a "careful and comprehensive assessment of the investment needs of the Airport over the next decade and beyond."

Two years ago the airport commissioned a independent report to look into the possibility of bringing in a private company, but the idea was eventually shelved following opposition from a number of quarters.

Stockton North MP Frank Cook said he would now welcome private sector investment, but remained concerned that the airport should "maintain control over its destiny".

Increasingly a number of regional airports are turning towards public private partnerships.

Last year Newcastle Airport announced a £200m partnership deal with Denmark's Copenhagen Airport.

*Teesside Airport is partly owned by five local councils: Durham County, Hartlepool, Middlesbrough, Redcar and Cleveland and Stockton-on-Tees.