This decision is said to have been driven by a lack of financial viability, high fixed costs, and an inability to get ‘tangible’ offers for airport ownership.
According to media reports, the move puts 800 jobs at risk.
The wind-down is scheduled to begin on 31 October 2022.
Peel Airports Group chairman Robert Hough said: “We recognise that this will come as a great disappointment to many. The intractable problem remains the fundamental and insufficient lack of current or prospective revenue streams, together with the airport’s high operating costs.
“Our employees have always been DSA’s greatest asset, and we are grateful to them all, past and present, for their dedication and diligence over the years. The immediate priority remains to continue engaging closely with them over the next few weeks.
“As such, DSA will now begin a formal process of consulting with team members. We will do everything we can to minimise the impact of these proposals and work closely with local authorities and agencies to support our employees through what we know will be an extremely difficult period.”
Peel announced the strategic review in July and has been engaging with local and national political stakeholders since then.
It added that DSA would be working with airport customers and other users to reduce disruption.
Peel Group CEO Steven Underwood said: “As the Strategic Review concludes, we look forward to collaborating with our partners to create a vibrant, long-term vision for GatewayEast and the airport site.”
Meanwhile, Manchester Airports Group (MAG) has come forward to offer all impacted DSA employees a guaranteed interview for vacancies across its three airports, East Midlands (EMA), London Stansted (STN) and Manchester (MAN ).