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Highlands and Islands Airports Limited was incorporated on 4 March 1986 by the Civil Aviation Authority. In 1995, ownership transferred from the CAA to the Secretary of State for Scotland, and to the Scottish Ministers upon devolution.[4]
The company was criticised for a PFI deal signed to build a new terminal at Inverness Airport, which meant that HIAL had to pay £3.50 to the PFI operator for every passenger flying from the airport. In 2006, the PFI deal was cancelled, costing the Scottish Executive £27.5m.[5]
Funding
It receives subsidies from public funds under terms of the Civil Aviation Act 1982.[6] For the year ending 31 March 2018, HIAL received £29.2 million of public money, of £20.6m was classed as revenue subsidy, and £8.6m was capital investment.[7]
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