PLANESTATION and EUJet have struck a unique deal that means PlaneStation will become the only airport operator in the world to also run its own airline.

The chief executive of EUJet, PJ McGoldrick, made the announcement at Kent International Airport at Manston and said he would be joining the board of PlaneStation as part of the deal.

He insisted the take over was good for both companies but would also benefit travellers.

He said: "This means that there will only be one company making profits rather than two and that has to be good for travellers."

Mr McGoldrick hinted this take over had been a possibility since before EUJet started its flights from the Ramsgate airport.

"Many other budget airlines have contacts with airports which allow them to offer low cost flights. When those contracts run out there are sometimes problems keeping the prices down.

"This deal ensures that this will not happen and that EUJet will be able to continue to offer low cost flights.”

Planestation has raised £5.17m by selling shares and will pay £2.5m for the airline. The remaining £2.67m has been set aside for the continuing rolling programme of improvements at the airport.

Once the transaction is over, Planestation will own 92 per cent of the airline and the remaining eight per cent will be in the hands of Debis Air Finance, the company that leases EUJet its Fokker 100 planes.