Millionaire Peter Rigby is closing in on a deal to take over Coventry Airport.

The tycoon, whose £330 million fortune earns him a spot on the Birmingham Post’s Rich List, could conclude a deal for the airport in a matter of weeks, it is understood.

The Patriot Aviation Group-owner has been holding talks with tenants and users of the airport and has reportedly gained a lot of support in his quest to reopen the site – which has been closed since December last year.

Talks have been held between Sir Peter and the landowner Coventry City Council over the past month, in a bid to hand over the running of the airport and safeguard hundreds of jobs under threat.

The airport was closed last year after the previous owners West Midlands International Airport Ltd was wound up after being served a petition from HM Revenue & Customs at London’s High Court.

Earlier this year, Swiss firm Airport Development Partners’ were due to take over Coventry Airport in a multi-million deal, but pulled out in February claiming they were unhappy with how the airport fitted in with their on-going business plans.

Just days later Sir Peter stepped in as a serious bidder, revealing he had been keeping tabs on the airport’s plight since its closure.

He previously described the airport as a “best-kept secret,” and believes it has the potential to be a “general aviation hub, handling cargo and serving helicopters, light aircraft and business jets”.

The entrepreneur is a qualified fixed wing and helicopter pilot who has indulged in his passion for flying as owner of Patriot Aviation, based in Gloucester and Cranfield.