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Cardiff Airport: Welsh government plan to buy from TBI

18 December 2012 Last updated at 20:12 GMT

The Welsh government wants to buy Cardiff Airport from its current owners, First Minister Carwyn Jones has announced.

He said an agreement had been reached with owner TBI and it will work towards a purchase over the next few months.

The airport would be run on a commercial basis by an independent operator on behalf of the government.

It will not receive subsidies and should make a "return to the Welsh taxpayer", Mr Jones said.

Business correspondent Nick Servini reports.

Welsh government to buy airport