Aberdeen-backed UK broadband provider Airband is seeking a buyer after incurring significant losses, potentially jeopardizing £200 million in investor capital. The company has begun sending sale documents to potential acquirers, following workforce reductions and its second restructuring since 2024. Airband, which serves approximately 175,000 homes, reported £6.7 million in revenue and over £66 million in losses for 2024, with total liabilities exceeding £224 million.

The sale process for Airband, which could also involve debt restructuring, reflects broader financial pressures within the UK broadband market. High build costs and sluggish customer adoption have strained many "altnet" providers. Competitors like Goldman Sachs-backed City Fibre are also facing challenges, while Nexfibre's acquisition of Netomnia is under antitrust review, limiting potential buyers.

Airband confirmed the formal sale process aims to secure a "long-term owner," assuring customers that operations remain unaffected. The struggles of altnets, which collectively posted over £1.5 billion in losses in 2024, underscore the difficult market conditions. Recent examples include Gigaclear's loan write-downs and Macquarie-owned KCOM's restructuring, signaling a challenging environment for infrastructure investments in the sector.