Birmingham International Airport may be brought back under local authority control, in a move to bring forward the long-awaited main runway extension.

City Council leader Mike Whitby hopes to persuade fellow West Midlands council leaders to join Birmingham in mounting a bid for a controlling interest.

His move follows a decision by major shareholders Macquarie Airports Group and Dublin Airport Authority to dispose of their 48.25 per cent stake.

The sale price is open to negotiation, but the book value of the combined shareholding is £260 million.

Leaders of the region's seven metropolitan councils met behind closed doors in Birmingham for almost four hours yesterday morning to thrash out a public statement.

A guarded press release, agreed by the seven leaders, underlined strong support for the early implementation of the runway extension and an intention to meet with potential bidders for airport shares.

The councils have appointed Deloittes and PricewaterhouseCoopers to provide specialist advice.

Ted Richards, the leader of Solihull Council and chairman of the West Midlands council leaders committee, said: "The airport plays a pivotal role in the regional economy and our status on the global stage cannot be underestimated. That is why it is imperative we work with all parties to ensure