According to a report in Sky News  Balfour Beatty has begun sounding out prospective bidders for its 60% stake in Exeter International Airport in recent weeks.

Earlier this month, Balfour sold stakes in five PFI projects, including a quartet of schools in the Midlands and north of England, and the Tameside hospital PFI in Greater Manchester.

The management team is speeding up a revamp of its asset portfolio in the wake of two profit warnings in the space of six months caused by pressure on margins in its core UK construction business.

Balfour Beatty would not comment on its disposal plan.