KIRKLEES Council could be set for a £7m windfall - if plans to sell airport shares take off.
The council owns just over 6.6% of shares in Leeds-Bradford International Airport in Yeadon.
Leeds City Council is keen to sell some of the shares in the airport to a private company.
Following a confidential report, which laid out six options open to develop the airport, council bosses plumped for a majority disposal of airport shares.
The other options included doing nothing, or the councils investing extra cash - with Kirklees expected to put in about £1m.
Options discounted also included leasing the airport to a private company for 25 years, a minority disposal of up to 49% and a sale of the airport lock, stock and barrel.
The preferred option means the council wants to sell at least 51% of the air travel hub.
Leeds and Bradford local authorities own 40% of the booming venture with Kirklees, Calderdale and Wakefield all being minority shareholders.
The Examiner understands a previous valuation of the airport about two years ago produced a predicted value on the open market of about £200m.
But the increased number of flights and improved business conditions could push that valuation up even further.
Now Leeds City Council has given the green light for top officers to make contact with the other authorities involved and to try and hammer out a multi-million pound deal.
Kirklees Council regeneration boss Coun John Smithson said he was aware of the proposal and would support it.
He added: "If the price is right we will sell."
The Almondbury councillor said the council had been involved with the airport for more than a decade.
Kirklees Council's shares in the venture are currently worth just over £1m - but could soar if put up for sale.
Clr Smithson added: "We don't put any money in, but we don't really get a lot out. It is reinvested back into the airport.
"Realising £7m would mean that we have this money in our accounts which in mortgage payments alone could save the council about £50,000 a year."
The consultation between officers is expected to take a couple of months with firmer proposals in the New Year.