Issue - meetings

Report of the Leader

RESOLVED

That the Gloucestershire Airport Business Plan 2015-2018 be approved.

The Leader introduced the report which outlined the progress which had been made following the outcome of the independent review by York Aviation Ltd (YAL) of the governance arrangements of Gloucestershire Airport Ltd. He reminded Members that last year the shareholders publicly endorsed the airport which was deemed to be of general benefit to the community as a whole. As a result of this commitment a number of new business opportunities had arisen.

The Leader reported that YAL had been commissioned to undertake further work with the board on the business plan. The report under consideration by Cabinet set out the key elements of the airport’s business plan for the period 2015-18 for endorsement by shareholders. Once approved the Leader, as shareholder for CBC, would report the outcome to the next Shareholder forum on 20 March 2015.

The Leader outlined the following :

·         £550k of investment from Government had been received as part of the Growth deal for road infrastructure to enable the development of new hangars-this could increase income through future leasing

·         A one-off capital receipt form a local company is assumed in the business plan

·         Historically the pension scheme had been in deficit and the company could not pay a dividend until this was cleared. There was now however the potential in 2015/16 for the shareholders to receive a dividend. Should this be the case it was likely that this would be re-invested back.

Finally the Leader welcomed the positive progress that had been made which was fully supported by the shareholders.

The Cabinet Member Development and Safety welcomed the business plan which contained clear objectives and outlined the funding to achieve them. By approving the business plan would allow the airport to grow.

RESOLVED

That the Gloucestershire Airport Business Plan 2015-2018 be approved.