The airport was owned and operated by City Hopper Airports Limited, which also owns Wolverhampton Airport and Biella Airport in Italy, until January 2007, when it was placed under new management after one of its two major shareholders bought out its partner. MAR Properties Ltd agreed terms to take over full control of Blackpool and Wolverhampton Airports. In May 2008, it was announced that Balfour Beatty, who also owned Exeter Airport and Londonderry Eglinton Airport, had purchased MAR Property's 95% stake in the airport; the remaining 5% stake was held by Blackpool Borough Council.