Business Live - Sion Barry
The airport forms part of a multsite freeport bid from Newport City Council
Plans for Cardiff Airport to be at the heart of a multisite freeport in south-east Wales can be revealed. The bid for freeport status, which is being led by Newport City Council, also covers a number of under-developed employment sites across the Cardiff Capital Region, and if successful promises to create thousands of new jobs.
The bid would provide a significant boost to the Rhoose-based airport and support long-term plans to pivot it away from its over reliance on passenger related income for revenues - currently at around 80% but with the aim of increasing non passenger revenues to 50%. The airport has significant land around its terminal to accommodate freeport related developments. Freeport status should also significantly boost its air freight traffic.
Newport City Council wouldn’t confirm which other sites it has identified as part of its regional freeport bid with the airport, however, they are understood to be located in most local authority areas that make up the Cardiff Capital Region. However, Newport is working with local authorities on a case by case basis and not through the auspices of the city region.