On behalf of the Auditor General, we have examined the Welsh Government’s acquisition and ownership of Cardiff Airport.
Our work has considered events leading up to the negotiations about the purchase and the purchase itself, including the due diligence work undertaken and whether the decision to buy on the terms agreed was soundly based. We have also considered the setting up and operation of the Welsh Government’s holding company arrangements and the overall progress that the Airport is making against its business plan and the Welsh Government’s own objectives.
Our work is limited to those matters within the remit of the Welsh Government and its holding company, including wider issues such as transport access. We have not examined the detailed day-to-day operations of the Airport itself.