The Audit Scotland public-spending ‘watchdog’ has published a report that says plans to sell Prestwick Airport back to the private sector are viable, but they could take up to 10 years to achieve.

The airport was acquired by the Scottish Executive for just £1 from owners Infratil in late 2013 amid fears that it could close.

Ministers have so far committed to providing £25.2 million in loan funding. They want to make it profitable again before returning it to the private sector.

Infrastructure Secretary Keith Brown said: “The closure of Prestwick Airport would have been devastating for Ayrshire.

"The action taken by the Scottish Executive safeguarded 3,200 jobs and secured a vital infrastructure asset that contributes more than £61 million annually to the Scottish economy.

“Audit Scotland’s report vindicates the action taken. It shows that we made the right decision to step in, and it confirms that we followed the correct purchase process in a tight time-scale, identifying and considering the risks before moving forward with the acquisition.”