ICG Acquires Bournemouth, Exeter, and Norwich Airports to Boost UK Regional Travel and Sustainability: What You Need to Know

Published on August 6, 2025

The recent purchase of Regional & City Airports (RCA)—which runs Bournemouth, Exeter, and Norwich airports—by the investment group ICG is a big boost for UK tourism and aviation. The £200 million ($266 million) agreement, likely to close this month, marks the end of a 12-year stretch of ownership by the Rigby Group and sets the stage for a fresh round of investment and innovation across the UK’s regional aviation landscape.

The ICG deal also brings its XLR Executive Jet Centres—based at Liverpool, Birmingham, Bournemouth, and Exeter—under new ownership. ICG is promising to concentrate on growth, sustainability, and a better tourism experience. The investment team plans to use its track record to refresh and expand services at the airports. For the travel and tourism sector, the move signals a future where regional travel is easier to access, kinder to the planet, and poised for steady growth.

Strategic Vision for Sustainable Regional Aviation

At the core of ICG’s vision for the acquired airports is the commitment to sustainable aviation operations. The group plans to build on RCA’s strong fundamentals, such as its leadership, regional focus, and revenue diversification, while pushing for even greater growth potential in the coming years. In particular, the move towards sustainability is expected to resonate with increasingly eco-conscious travelers, making regional airports like Bournemouth, Exeter, and Norwich more attractive as part of the UK’s broader tourism offerings.

With a focus on delivering growth and transitioning toward environmentally friendly operations, ICG intends to introduce new initiatives that will not only drive tourism but also minimize the environmental footprint of regional aviation. This is critical as the tourism industry continues to recover from the disruptions caused by the COVID-19 pandemic and faces increasing demand for sustainable travel solutions.

Sustainability is a central theme in ICG’s approach to managing these airports. From carbon-reduction efforts to eco-friendly terminal developments, the acquisition is expected to contribute to the UK’s ambitious environmental targets. As tourism rebounds, passengers are increasingly choosing destinations and transport options that reflect their environmental values. By incorporating sustainable practices, ICG will attract a broader segment of eco-conscious travelers, who are seeking destinations that prioritize both the environment and accessibility.

Regional Aviation: An Underestimated Growth Engine for UK Tourism

Regional airports like Bournemouth, Exeter, and Norwich play an often underappreciated yet crucial role in the UK tourism industry. In 2024, RCA’s airports saw a 13% increase in passenger numbers, handling over 2 million passengers. This growth highlights the potential these airports hold in connecting UK regions with both domestic and international destinations, making them integral to regional tourism.

For example, Bournemouth is the largest airport in the RCA portfolio and is set to see over 646,000 departure seats scheduled for the summer 2025 season. The airport’s growth has been largely driven by an increase in holiday packages and flight routes. TUI has significantly expanded its presence, and the addition of Jet2.com’s 12th UK base in February 2025 will likely spur further demand for travel to Bournemouth, particularly in the busy summer months. This growth makes Bournemouth a key gateway for tourists heading to the South Coast, including popular holiday destinations such as the Jurassic Coast, Dorset, and the wider South West of England.

At Exeter, TUI’s expansion following the collapse of Flybe is helping to fill the gap left by the regional carrier. Exeter’s growth, with 270,000 scheduled seats for the upcoming summer season, is critical to the regeneration of South West tourism. Historically a key hub for Flybe, Exeter now serves as an entry point for visitors seeking access to Devon and Cornwall—two of the UK’s most beloved tourist regions, famous for their beaches, national parks, and historic landmarks.

Norwich, too, has seen positive developments, with the launch of Ryanair’s first-ever routes in summer 2024, including flights to Alicante, Faro, and Malta. This international expansion puts Norwich on the map as an affordable departure point for European vacations, attracting travelers from both the UK and abroad. The increase in international routes is crucial for supporting both the local economy and the East Anglia region’s tourism industry, which benefits from increased connectivity to major European cities.

The Role of Budget Airlines in Regional Tourism Growth

A key driver in the success of Bournemouth, Exeter, and Norwich has been the increase in budget airline routes, especially by carriers like Ryanair, TUI, and Jet2.com. These airlines provide affordable flight options, making it easier for travelers to visit regional airports rather than relying solely on larger international hubs like London Heathrow or Gatwick.

Jet2’s expansion at Bournemouth and TUI’s increased services at Exeter show how regional airports are benefiting from this trend. These budget airlines are key contributors to the success of the UK’s regional tourism industry. They connect smaller, more picturesque destinations to major cities, making it possible for tourists to experience parts of the UK that might otherwise be out of reach.

By improving air connectivity and expanding flight options, ICG’s acquisition positions these airports as essential gateways to the UK’s regional tourism market. More routes mean more visitors—both domestic and international—helping to boost local economies and create jobs in the tourism and hospitality sectors. This is vital for the continued recovery of the tourism industry, especially in the post-pandemic landscape.

Future Prospects and Opportunities for Regional Airports in UK Tourism

The deal between ICG and RCA offers significant opportunities for further expansion and innovation. The focus on growth and sustainability will ensure that Bournemouth, Exeter, and Norwich continue to evolve and meet the needs of modern travelers. As regional airports are crucial for driving domestic tourism and fostering international connections, the growth of these airports will be integral to the UK’s ongoing recovery and long-term competitiveness in global tourism.

Moreover, ICG’s acquisition plan includes the introduction of more sustainable tourism initiatives, which are gaining importance among travelers. With increasing demands for low-carbon travel options, ICG’s commitment to promoting environmentally responsible practices at these airports will appeal to the eco-conscious traveler. This will also help meet the UK’s ambitious Net Zero goals for aviation and tourism by 2050.

Conclusion: A Bright Future for Regional Aviation and Tourism

ICG’s purchase of Regional & City Airports is excellent news for regional flying in the UK. The investment puts sustainability, better links, and tourism growth front and centre, allowing these airports to carve out an even bigger role in the UK’s transport and tourism networks.

Holidaymakers will feel the benefits right away, enjoying lower fares and new connections to the UK’s most popular tourist areas. For the tourism sector, the airport deal is an opening to make trips smoother and more appealing, supporting the UK’s wider push for an eco-friendly and robust tourism future.