The Peel Group shut the airport in November 2022, claiming it had never made a profit due to low passenger numbers, but Doncaster Council is now looking to lease it and find an operator to run it.

Mr Coppard said South Yorkshire Mayoral Combined Authority (SYMCA), which he runs, will provide the council with the funds and support it needs to reopen Doncaster Sheffield Airport (DSA).

The Labour-run council is aiming to agree a deal with an operator by March 2024, but said some are concerned about the risks and the “significant reinstatement costs”, as they will need to recruit staff and “restore essential infrastructure”.

It has submitted an outline business case to SYMCA, requesting “a significant sum” from the £138m Gainshare fund, which was promised to Doncaster by the government as part of South Yorkshire’s devolution deal.

Council leaders have not revealed how much they are requesting, but said operators will be offered millions of pounds of taxpayer-funded subsidies as an incentive to invest.

“We are determined to make sure that with Doncaster Council, we work in partnership to get to a place where we can reopen the airport as soon as humanly possible,” said Mr Coppard.

“There are four potential investors that are in the second stage of negotiations, with the aim of just one being selected later this year.

“The airport generated about £108m (a year) for the region when it was operating and we think that's a huge economic benefit for the whole of South Yorkshire.

“The Gainshare fund is there to provide economic growth. That's why reopening the airport is a viable use of that funding and I'm keen to make sure we do that.”

He added: “We've got to go through the processes. There are, as you'd imagine when you're spending public money, significant hurdles and quite rightly.

“But we're going through this process as quickly as we can."

The Peel Group closed DSA in November, claiming it had never made a profit due to a lack of passengers, despite more than £250m of investment.

DSA handled a record 1.4m passengers in 2019, but just 403,869 used the airport in the 12 months ending in March 2022, when it recorded an operating loss of £4.3m.

An assessment conducted for the council last year stated reopening the airport could provide a £2bn boost for the local economy and support 5,000 direct jobs, if a long-term expansion plan can be delivered.

The council wants to find a new operator quickly, as the Civil Aviation Authority is considering plans to remove the site’s controlled airspace, which is required for commercial flights.

Doncaster Sheffield Airport: Mayor wants it to reopen 'as soon as humanly possible'