As the management at George Best Belfast City Airport insist that the facility is not currently on the market - despite intense speculation - the owners are planning to proceed with an application to enlarge the existing runway.
Ferrovial, the Spanish construction company which owns the facility - was thought to be considering selling it in a bid to reduce its debt burden of more than £23 billion.
Ferrovial bought the airport from Canada's Bombardier in 2003 for £35 million, but analysts said the Spanish company could sell the facility for up to £150 million.
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However, a spokesman for the airport has now said: "In recent days there has been much media speculation surrounding the future ownership of the Belfast City Airport.
"The airport can clarify the specific media speculation by stating that no approach, in any form, has been made by the investment bank JP Morgan regarding a possible sale of the airport.
"It is understandable that in the current climate and in light of ongoing activities at BAA airports there will be speculation regarding Ferrovial's assets, however, Belfast City Airport is not currently on the market," the spokesman said.
Meanwhile, the airport is now believed to be aiming to lodge an application to extend their runway in the 'second quarter' of this year.
There is continued speculation that the application could be made as soon as next month.
The proposal for a runway extension was first outlined last October.
The plan is to extend the runway at Sydenham from its existing length of 1,829m by 600m, which would increase the scope of the airport.
However, residents' groups are opposed to further expansion, but an Examination in Public in 2006 gave the green light to an increase in traffic.
(BMcC)
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