Built in 1957, Cochstedt Airport was primarily utilised as an airbase during the Soviet occupation with a Soviet Air Force base established onsite. In 1968, the airport witnessed continued growth, and the length of airport’s runway was extended. Moreover, facilities were built for logistics operations at the airport. After Germany re-united and of Soviet troops withdrew, the Aschersleben/Stassfurt Economic Development Corporation took the initial steps to convert Cochstedt Airport so that it could be used for general civil aviation in order avert a permanent closure of the airport.
On 26th May 1994, Cochstedt was granted a license to operate as a commercial airport. A flight safety control zone for "D" airspace was also established. Furthermore, the airport was authorised to carry 24 hour operations (i.e. unrestricted day and night time flight operations). However, flight operations were suspended from November 1997 to early 1999. During this time, construction works were carried out in order to complete a new airfield including new runway, apron, as well as taxiways. In addition, a new control tower was built.
In June 2000, Cochstedt Airport’s runway received an ILS CAT I classification. This was achieved after the airport’s operator installed and successfully tested an instrument landing system with high-performance approach lights – the result of which extended flight operations to include instrument flight rules (IFR). During the summer of 2001, a new fire station was put into service. Moreover, construction was initiated on a new general aviation terminal (GAT).
Beginning 31 December 2001, the airport ceased flight operations and further development due to insolvency of the airport company.
This prevented the timely completion of construction works on the GAT; a secure fenced area, a ring road, as well as entry access gates. All leased equipment including vehicles and ground operations equipment had to be returned to the respective leasing company. However, the airfield’s navigation aids remained in service at the airport. In total, over 50 million Euros were spent on projects to improve and further develop Cochstedt Airport.
In 2005, the GSA acquired the bankrupt estate's entire assets and was given the task of finding a suitable buyer for the airport. The GSA and the administrative district of Aschersleben-Stassfurt immediately founded a new airport operating company, namely, FMC mbH.
Danish company Development A/S acquired Magdeburg-Cochstedt Airport on 4 March 2010.