The Welsh government has bought Cardiff Airport in a £52 million move aimed at transforming its fortunes.
Wales First Minister Carwyn Jones announced last December that the government was looking at the airport's accounts with a view to buying it.
A three-month examination of the books concluded with the purchase of the airport by a government holding company.
"We will be directly investing approximately £52 million to acquire the assets and operations of the airport," Mr Jones said in a written statement.
"Members will understand that the timing of this announcement has been dictated by the demands of the due diligence and legal process," he added.
"It was vital that this work was carried out thoroughly and without undue pressures. I am making this announcement at the earliest opportunity allowed by the commercial process and I thought it right to inform Members straightaway."
Further details of the business case that prepared the way for the purchase will be released later.
He described the move as part of the Welsh government's commitment to developing a dynamic and forward-looking economic infrastructure for Wales.
"Cardiff Airport presents an opportunity to develop a vital facility for businesses, tourists and the public more widely. I trust that Members will support our ambition to boost the Welsh economy in this way."
News of the £52 million purchase was criticised by Conservative Byron Davies AM, the shadow minister for transport. He accused the Labour-lead government of frittering away public money on a "socialist vanity project".
The five worst holiday disasters
Wales buys Cardiff Airport for £52m
If you are a victim of a strike, or any other event beyond the airline's control (including ash clouds!), they must offer you a refund (in which case it's up to you to find a way home) or an alternative flight. While you are waiting for the flight you have the right to food and refreshment and accommodation.
If you are on a package holiday, your tour operator is entirely responsible for looking after you until you get back to the UK.
This is more likely to happen due to the financial crisis, but in some situations you are covered.
If you pay by credit card and it's over £100, you'll get a refund from the card company.
Your travel insurance may well cover you too, but check before you go.
Talk to the airline, and if it is temporarily misplaced they should arrange for it to be sent to your accommodation, and you should be either given cash to cover the essentials in the interim.
If it's completely lost you must wait 21 days and then make a claim for compensation. If you are travelling as part of a package you can claim costs from your operator.
If you are travelling within the EU you need an EHIC card, which gives you access to public healthcare. However, this won't necessarily be free, and if you need extra services such as accommodation for a carer, a helicopter home or a delayed flight, you could end up seriously out of pocket.
The only protection that will guarantee you will be looked after without running up a horrendous debt is by having travel insurance - which often covers up to £10 million of costs.
The most common form of theft is pick-pocketing, followed by theft from a car and bag snatching. Meanwhile, 752,000 of those surveyed had items stolen from their hotel room or villa.
If you have anything stolen, your only protection is insurance. You need to tell the local police immediately and get a crime reference for your travel insurer.