The 49% stake in Newcastle International Airport owned by infrastructure investment firm InfraBridge may soon be sold, according to reports.

Saudi Arabia’s Public Investment Fund (PIF), owner of Newcastle United FC, is thought to be among the interested parties. JP Morgan is overseeing the sale of the 49% stake.

Newcastle Airport is run as a Public Private Partnership between InfraBridge, a division of Florida-based alternative asset manager DigitalBridge, which has a 49% stake, and seven local authorities in the North East of England, who own 51%.

The local authorities are Durham County Council, Gateshead Council, Newcastle City Council, North Tyneside Council, Northumberland County Council, South Tyneside Council, and Sunderland City Council.

In September, the airport announced its “best ever” financial results with the submission of its 2023 annual accounts.

Total revenues for the airport in the most recent financial year increased 22% to £79.1 million, while operating profit grew 36% to £33.9 million.

The airport said it welcomed 4.9 million passengers in 2023, two new airline partners, SunExpress and AEGEAN, and “invested significantly in operational efficiencies and the passenger experience.”