Members of the Residents Opposed to Airport Regime group (ROAR), formed to fight plans for continued airport building, are worried the deal could give fresh impetus to expansion proposals.

The construction giant is putting the finishing touches on a deal to buy the airport from Marr Properties, which is expected to be completed this week.

The move has been broadly welcomed in Blackpool but neighbouring homeowners say they are concerned about the investment.

Bob Fielding, a spokesman for ROAR, said: "I don't think Balfour Beatty would be spending £14m if they didn't think they would be getting something out of it.

"I'm a little bit worried about the comment from Peter Callow, Blackpool Council's leader, that this is great news for Blackpool. I don't think this is great news for St Annes.

"Balfour Beatty has got more experience at developing airports than Marr Properties. It is a different kettle of fish."

Last summer, airport bosses scaled down their airport masterplan, setting a new target of 3.35m passengers a year by 2030, nearly a million down on the initial target of 4.3m.

Mr Fielding, who is hoping to meet the airport's new bosses, added: "The future of air transport is unsustainable.

"It would be welcomed if they saw it as more of an regional, rather than an international airport."

Balfour Beatty has already transformed the fortunes of Exeter International Airport, expanding its passenger numbers since taking over in January 2007 from 300,000 to more than 1m.

The firm has pledged to work with residents living close to Blackpool.

A spokesman for Balfour Beatty said: "We would be quite happy to meet the group.

"We want to have a close relationship with the local community.

"There are a number of liaison people working with the company who work within the community."