Balfour Beatty is sounding out prospective bidders for its 60 per cent stake in Exeter Airport, according to reports.
Sky News reported today that the group is to offload its stake in the airport amid pessimism over future passenger numbers.
The broadcaster says Balfour has “begun sounding prospective bidders” in recent weeks, and that the sales process is at an early stage.
Balfour recently issued two profit warnings within six months of each other, prompting chief executive Andrew McNaughton to tell Construction News the firm was looking for internal answers.
Balfour sold two PFI stakes in health and education earlier this month, for a total of £58.5m.
Balfour bought the airport in 2007, but wrote down the value in August 2012 from £12m to zero, according to Sky.
Balfour has been contacted for comment.