Cargolux (CV, Luxembourg) will transfer its London Manston operations to London Stansted after the former's management announced the facility would close next Thursday, May 15, 2014. The news comes after owner Ann Gloag rejected a GBP5million (USD8.48million) offer put forward by Connecticut-based investor, RiverOak Investment Corp LLC, to acquire 100% of the shares in the company owning Manston Airport.

"RiverOak has developed a long term plan to own and manage Manston as an airport in line with its investment of diversified investing in asset backed businesses. RiverOak remains committed to investing in and developing Manston as a successful diversified aviation services, cargo and potential future passenger airport facility, and values Manston as an important piece of aviation infrastructure that is very important to both Kent specifically and the United Kingdom in general," the firm said in a statement, lamenting the collapse of the deal.

In a statement, the Unite trade union said the loss of 140 jobs was unacceptable, lambasting Gloag and her team for pressing ahead with closure despite a viable offer to buy the airport.

“We are shocked and very angry. We can’t believe that the owners of Manston have rejected a viable offer to buy the airport which would leave the owners in profit. We believe Manston should continue as a viable airport. It is vital to the local economy in terms of employment and economic growth in Kent," it said.

In late March, airport management announced the facility was generating over GBP10'000 per day in losses. As a result of the uncertainty, operators such as KLM Cityhopper (WA, Amsterdam Schiphol) and Saudia (SV, Jeddah International) subsidiary, Saudia Cargo, terminated their services to the airport.