Prestwick Airport is up for sale.

The airport, which is owned by the Scottish Government, is said to have racked up millions in debt since they bought it for just £1 in 2013.

Dwindling passenger numbers have mean that budget airline Ryanair is the only operator with flights in and out of the Ayrshire base.

The airport is also used as for military and freight transport.

The Scottish Government feared thousands of jobs would be lost and made the decision to buy the airport six years ago.

Transport secretary Michael Matheson told MSPs in January this year that costs at the airport were down and revenues were increasing and said the Scottish Government were looking to return the facility to the private sector.

Cabinet Secretary for Transport, Infrastructure and Connectivity Michael Matheson said: “Since the Scottish Government bought Glasgow Prestwick Airport in 2013, we have been clear that it is our intention to return the business to the private sector when the time is right.

“The senior management team at the airport has continued to engage with potential buyers and investors to discuss proposals for developing the business under new ownership.

“Good progress continues to be made by the airport to increase revenue, deliver operating efficiencies and pursue exciting opportunities for the future, including Spaceport.

“In light of that progress, the airport will shortly place an advert in the Official Journal of the European Union inviting expressions of interest. Any proposals submitted as a result of the advert would be considered carefully before any decision was taken to divest our shareholding in the airport or any part of the business.”

An advert will be placed in the Official Journal of the European Union, inviting expression of interest in the business.