Peel Holdings, which is owned by the Isle of Man-based billionaire John Whittaker, has struck a deal to sell a 65 per cent stake in its airports to a Canadian firm.

Vancouver Airport Services announced today that it has reached agreement with The Peel Group for the share in Peel Airports Limited, which includes key assets of Liverpool John Lennon Airport, Robin Hood Airport Doncaster Sheffield and Durham Tees Valley Airport.

The Peel Group will retain the other 35 per cent investment in PAL and a presence on the board, with a statement saying the firm looks forward to the opportunities the strategic partnership with Vancouver Airport Services will generate.

Peel Group Chairman John Whittaker says, "We are delighted to move forward and partner with Vancouver Airport Services.

"Its network of international airports and expertise as a leading airport specialist will further increase the success of these growing regional airport businesses.

"The retention of a significant investment in the joint venture, together with our associated airport-related property, is firmly in line with our strategy of creating long term partnerships to unlock value from the relationship between our diverse infrastructure, transport and real estate assets."