A FORMER executive at a scandal-hit college is taking over as finance chief at Prestwick Airport.
Derek Banks is the first permanent finance and commercial director at the taxpayer-owned airport for more than four months. He replaces former chartered accountant Brian Sutherland, who stepped down in December after less than a month in the role due to "personal circumstances".
Mr Banks, 49, comes from a public sector background having previously held positions with the Scottish Qualifications Authority (SQA), Coatbridge College and the NHS.
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Mr Banks, who is originally from Newton Mearns and now lives in East Kilbride, said he relished the opportunity to try and turn the ailing hub's fortunes around.
He said: "For me, I think there's a positive outcome for Glasgow Prestwick Airport and that's part of the attraction. I've held similar posts in the past where I've been part of turning things around and I get great satisfaction from doing that."
Mr Banks was previously praised for staying to help oversee a fraught merger between Coatbridge College with two other colleges to create New College Lanarkshire in 2014.
The merger was plunged into controversy when it emerged that the principal, a member of the principal's office, and five members of the senior management team - including Mr Banks - received severance packages totalling £850,000.
However, Mr Banks' settlement was said to be one of the smaller pay-offs and he was subsequently applauded in the Linkston Report into the merger for staying on after the “collapse” of the management structure, with his efforts "greatly appreciated by staff".
READ MORE: Changes at Prestwick as airport grows its offer for local businesses
Mr Banks, who transformed the college's finances from £250,000 debt to a £1m surplus between 2006 and March 2014, said: "I had a great attachment to the college because we had taken it from the worst to one of the best and I really wanted to be there for the staff and the students to make sure the transition was as seamless as possible, with the additional stress of everything that had happened. So that was my reason for staying on, to make sure that they were supported and going forward that the students would have the appropriate education that they justly deserved."
Prestwick Airport faced closure before the Scottish Government bought it for £1 in 2013. Ministers want to see the base returned to profitability and sold back to the private sector, but a recent report by public spending watchdog Audit Scotland estimated this will require nearly £40m in taxpayer loans and take until around 2021/22.
Airport bosses have previously indicated that their immediate priorities are to secure a direct flight to London and lure additional carriers besides Ryanair, the only passenger airline currently operating from the site.
However, the base is also in the running to be the UK's first spaceport and is expecting brisk trade in July when the Open comes to Royal Troon. More than 70 private flights are already scheduled to land that week, boosting revenue for the airport.
"There's going to be no stone unturned - we have to look at every opportunity," said Mr Banks. "Whether that's short-term or long-term, we do need to analyse every possibly and focus on those areas that are going to give us a significant return that's viable and sustainable for the future, so that someone will eventually take an interest and invest in us."
Andrew Miller, chairman of Glasgow Prestwick Airport, said Mr Banks would be a "pivotal part" of the leadership team.
“He has exactly the outlook that we need for where we are as a business right now. We need to ensure that we achieve a balance between cutting costs and investing in the areas where we can gain the greatest possible return."
READ MORE: Changes at Prestwick as airport grows its offer for local businesses
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