Aim to tackle trading deficit
New plans for Ronaldsway Airport are to be put to Tynwald by April 2020.
Treasury Minister Alfred Cannan says a new structure aims to solve the financial issues highlighted by consultants recently.
York Aviation estimated an annual trading deficit of £3.7million.
Mr Cannan though says he's positive about upcoming changes:
Storm Bram: Red weather warning to come into force later
We're told to expect 'severe' coastal overtopping this afternoon
Storm Bram: Mountain Road to close this afternoon
Route to shut between 1pm and 5pm during storm form winds
Occupants of stranded car seek refuge on car roof
It happened just after 8.30am
'Unpleasant conditions' expected around the coasts during red weather warning
The red warning for coastal overtopping comes into force from 1pm