Prestwick’s £1 Scot Gov rescue yields defence payoff

Prestwick’s £1 Scot Gov rescue yields defence payoff

Glasgow Prestwick Airport, bought by the Scottish government for £1 in 2013 to avert closure, has developed into a fixture in UK and allied military logistics more than a decade later. It was a good bet. Audit Scotland said the purchase prevented immediate shutdown after private buyers withdrew. The airport has since posted six straight operating profits, driven by cargo growth and maintenance work by airlines including Ryanair. Defence-linked a…