Belfast City Airport has been sold for an undisclosed sum, as part of a portfolio of assets.

3i Group plc is to acquire the portfolio from the EISER Global Infrastructure Fund.

The airport is the closest to the centre of Belfast and served 2.7 million passengers in 2015.

However, the transaction is subject to certain conditions - including approval from the European Commission.

3i is a European infrastructure investor, with a team of around 30 investment professionals.

Belfast City Airport was originally named 'Belfast Harbour Airport' and opened in March 1938.

In 2003, ownership was passed to the Ferrovial Group who had headquarters in Madrid.

Belfast City Airport was re-named 'George Best Belfast City Airport' on May 22nd 2006, to commemorative the life of football legend George Best.

Best was born and grew up close to the airport.

The airport was previously sold to Fortis for stg£132.5m (€156m).

That is almost four times what former owners Ferrovial bought it for.