Prestwick Airport is unlikely to attract new airlines or passenger services in its current state but could be revitalised if a bid to become the UK's first spaceport succeeds, a new report suggests.
The "strategic vision document" is based on a secret taxpayer-funded report by senior finance executive Romain Py, who was hired to assess the viability of the publicly-owned transport hub after the Scottish Government took over the ailing airport.
It recommends a series of initiatives to overhaul the South Ayrshire facility so it can remain commercially viable.
While the report warns prospects of growth from operators other than Ryanair appear limited, Prestwick becoming the UK space tourism hub would be "the catalyst for transformational change".
It could revitalise the airport's image and create several new highly-profitable income streams, while also giving an economic boost to Ayrshire and Scotland.
The airport is among eight locations shortlisted to be Britain's first commercial space-travel centre, with airport bosses confident they have a good chance of success after meeting and in some cases exceeding the criteria.
There are plans to give the airport a facelift by improving duty-free, toilet and terminal facilities, while more exploitation of air freight has also been recommended.
Deputy First Minister Nicola Sturgeon called the publication of the document the latest step in Prestwick's journey to becoming a "successful and vibrant airport".
The Scottish Government bought the airport for £1 last November after New Zealand owner Infratil failed to find a commercial buyer.
It ran at a pre-tax loss of £9.77 million in the 12 months to March 31 this year. Ms Sturgeon said: "We have been clear from the start of this process that there is no quick fix for the airport but there are opportunities to improve in all areas of the business, from increasing passenger and freight traffic to putting forward a bid for the UK Spaceport programme.
"We are confident there is a place for Glasgow Prestwick Airport in the evolving Scottish aviation market and look forward to seeing it grow and develop."
Calls to rename Prestwick the Robert Burns International Airport have been ruled out after fears the proposal would be commercially harmful. The report reveals the amount of freight flown from the airport has risen by 38 per cent over the current financial year, although it remains significantly down on five years ago. In recent months a state- of-the-art X-ray machine for security screening of air freight has been bought.
Prestwick chief executive Iain Cochrane said: "We firmly believe the airport has a bright future."
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