City of Derry Airport has announced it is to enter into a new partnership with a private firm.

It is hoped the deal will end the financial burden on Londonderry ratepayers within seven years.

The airport currently costs Derry City Council £3.5m a year.

The council said in was in the final stages of discussions with a Balfour Beatty Group Company, about entering a management contract.

General Manager of Balfour Beatty, Clive Coleman, says he hoped their would be new routes from Derry.