Announcing the purchase, the First Minister said:
"Cardiff Airport is a vital gateway to Wales for business, tourists and general travellers alike. It is essential that its future is secured and that we develop high quality sustainable services.
"The Airport will not be operated by the Welsh Government. It will be managed at arm’s length from government on a commercial basis and, over time, I expect to see a return to the public purse on the investment.
"A Chief Executive of the airport will be announced in due course. In the meantime, I am delighted that Lord Rowe-Beddoe has agreed to serve as Chairman of the Airport Board."
Edwina Hart, Minister for Economy, Science and Transport said:
"The airport is a major piece of economic infra-structure for Wales. I look forward to working in partnership with the workforce at the airport as we develop a high quality service for passengers and create a facility of which Wales can be proud."