The co-founder of the Stagecoach Group has purchased Manston Airport for £1.

According to the BBC, Ann Gloag bought it from New Zealand owners Infratil, which announced aims to sell both of its UK airports - Manston and Glasgow Prestwick - last year.

A spokesperson for Infratil said the actual end-cost will comprise a "cash consideration of £1, plus an adjustment for working capital variances and cash injected by Infratil", with a total amount expected to be around £350,000.

Ms Gloag stated she is delighted with the sale, believing there is potential for the airport - a view shared by Conservative MP for Thanet North Roger Gale.

Mr Gale said: "I have said for 25 years now that the airport will never really succeed until we have a one-hour link from London to Manston. That is achievable and on track."

As for Glasgow Prestwick, Infratil is in talks with the Scottish Government to nationalise the airport, with indications it may be given away for free.

It is reported plans are underway to improve road access to Mansted Airport - which is situated in east Kent - as well as adding a railway station.