The sale of Leeds Bradford Airport to the private sector will go ahead after the move was given the green light by Bradford Council.
The airport has been local authority-owned since 1987
The authority, which owns 40% of the airport, agreed to the sale after a full council meeting on Thursday.
Leeds City Council has already agreed to sell its 40% stake, along with other shareholders Kirklees, Calderdale and Wakefield councils.
The sale of the airport could be completed by spring next year.
Deputy leader of Bradford Council, Dale Smith, said the authority's decision had not been forced on it by the other shareholders, which had already agreed to the sale.
He said: "We have taken this decision looking at hard commercial realities.
"We wish to see the airport move into the 21st century. We are not hanging on anyone else's coat-tails here."
Mr Smith said any estimate of what the airport could be worth was "speculation", but figures in the region of £40m have been reported.
He said: "Any money into the council tax payers' coffers is obviously welcome."
Safeguards for future
After Leeds Council announced its decision last month, councillor Andrew Carter said there were development constraints while the airport was publicly owned.
He said: "The airport business is complex and we believe this sort of commercial risk is more suited to the private sector."
But, he said, the authority would ask for safeguards about the future of the airport.
Leeds Bradford International Airport was originally Yeadon Aerodrome, which began operating in October 1931. The five local authorities took over its ownership in 1987.
The airport currently serves 60 direct destinations and was used by more than 2.5m passengers in 2005.