The sale of Norwich International Airport has finally been given the go-ahead by the City Council.
The airport is being sold for £11m
Omniport, which owns a share in Prestwick Airport in Scotland, has agreed to pay £11m for the site.
The plan was approved by Norfolk County Council - which owns 60% of the airport - earlier this year.
The city council, with a 40% share in the airport, originally opposed the deal.
But on Monday night, city councillors agreed to the sale on the condition that two valuable plots of land were excluded from the deal.
Norman Mellor, head of communications at Norwich City Council said the council had been determined to get value for money for the people of Norwich.
He said: "The deal that was agreed last night represents the best option in that it releases an amount of money for the airport.
"It guarantees immediate investment of about £8.3m in the airport.
"But Norwich City Council and Norwich County Council retain ownership of two pockets of land."
It is thought Omniport wants to expand the airport and bring in low-cost airlines.