Infrastructure investment firm InfraBridge, with whom Aena jointly owns Luton, has agreed to sell a 51% stake in a newly formed holding company to Aena, with the new company owning 100% of Leeds Bradford and 49% of Newcastle International airport.

InfraBridge will retain a 49% shareholding in the newly formed company. Reuters reports the deal as being worth £270 million. Under the new structure, Leeds Bradford and Newcastle International will continue to be operated and managed independently of each other.

Leeds Bradford said the deal reflected the airport's "strong performance", its "long-term strategic potential" and "the critical role is plays in supporting regional connectivity, economic activity and long-term development across Yorkshire".

Chief executive Vincent Hodder said: “This agreement is a positive development for Leeds Bradford airport, for our employees and customers and for Yorkshire.

"We are excited about the future as we welcome Aena as our new majority shareholder. Aena is the world’s largest airport operator by passenger numbers and brings deep operational expertise, and a strong track record of investing in and developing high quality airport infrastructure around the world.”