ITV News had learned that Durham Tees Valley Airport has not made the shortlist in the latest round of the Regional Growth Fund.
Owners Peel Holdings had hoped to use the government regeneration money to build a freight operation.
The owners of Durham Tees Valley Airport say they're committed to creating a huge freight operation even though it looks like they've missed out in the latest round of the Regional Growth Fund.
"I would personally like to thank the local community for their amazing donations of food, toiletries and clothing. "
Owners John and Irene Hays say there is ''light at the end of the tunnel'', after the pandemic forced them to close 650 UK stores.
There has been resistance to calls to dismantle memorials to the explorer.