Doncaster Sheffield Airport could be reopened under plans to buy it back or lease it from its owners.
It was wound down by owners Peel L&P in November 2022 who said it was no longer financially viable.
But City of Doncaster Council is set to discuss ringfencing more than £3m for a compulsory purchase order to buy the airport at a meeting later this month.
Peel had recently offered a lease of the airport, the council said, adding that it hopes to reopen the site after its closure last year affected about 800 jobs.
The deal is expected to cost up to £3.1m in legal costs initially.
A report looking at what can be done to reopen the airport is set to be discussed at a cabinet meeting on 12 April.
The area around the airport would also see a cluster of businesses grow to compliment the site, the council said.
Mayor of Doncaster Ros Jones said the fight for the airport was not over and she still hopes an agreement will be reached with Peel.
She said the acquisition process would take time and it will not be cheap.
‘However, this airport has the potential to be the jewel in the crown of the Doncaster and South Yorkshire economy.
‘It is an investment in the future of this great city and the region.’
