SOUTHEND Airport is for sale - but ambitious plans to develop it are likely to go ahead anyway.

Its owner, Regional Airports, is inviting offers from parties prepared to invest in the future of the enterprise.

Andrew Walters, the company's chief executive, said: "London Southend Airport has a great future. What is required now is an owner with the required resources and expertise to realise fully the potential we know is there."

Airport managing director Alastair Welch said Regional Airports was looking for "a well capitalised investor", with "the right vision for the future".

He confirmed several prospective purchasers had already expressed an interest in the business.

The airport, which was bought by Regional Airports in 1994, is trading profitably.

Final accounts for the year ending March 2007 showed a 60 per cent increase on the previous year.

Mr Welch said: "We are profitable. We have no debt. We have cash in the bank.

"All the indicators are the latest financial year will show further improvement.

"We are increasingly successful as a business. But, if we are to fulfil our ambitious Stage Two plans for the airport's development, we need extra investment of around £35million."

Staff at the airport were due to be informed of the move today.

Mr Welch said it would be in the interests of any purchaser "to retain existing staff and, I hope, management".

The airport company directly employs 80 people, though overall, the airport operation accounts for about 1,300 jobs.

Details of the £35million Stage Two plan have not yet been disclosed, but Mr Welch said they were designed to position the airport to take full advantage of the London Olympics.

He said: "The results of the new investment have to be in place by the summer of 2011.

"A number of airlines would like to use us if the facilities are in place.

"There will be a permanent legacy once the Olympics are over."

The owner expects all offers in and the deal to be finalised by early summer.

However, buyers will not be able to develop airport land, as it remains the property of Southend Council and is protected by a number of covenants limiting it to use as an airport.

PASSENGERS using Southend airport will be able to catch a train there by August 2009.

Planning permission to go ahead with a new station at the airport has now been granted by Rochford District Council.

Go-ahead for station

DREAMS of airport expansion have been bolstered by planning approval for the £12million station, which is to be built ahead of the rest of the ambitious scheme.

Rochford granted planning permission for the overall project in 1998 - with a new airport terminal at the heart of the plan.

Airport bosses recently decided they wanted to go ahead with the rail station before the terminal, leading to the latest application.

Airport managing director Alastair Welch explained: "Airlines have made it clear an on-site railway station with direct connections to Stratford for Docklands, and Liverpool Street, is essential for them to consider volume operations at the airport. We welcome this decision by Rochford as a key milestone."

He told councillors the railway station on the Liverpool Street line, was key to improving links to the airport.

Mr Welch said: "There is a critical need for the infrastructure to improve to put the airport on the map."

There was much support from councillors at the meeting, but concerns were raised about wildlife, especially reptiles on scrubland areas.

There were also worries about the issue of commuter parking.

The airport has already abandoned plans for commuter parking, because of furious opposition from local residents.

There will now be only limited parking, with shuttle bus ses between the station and the existing terminal.