So, the Council's are a group of seven yet operate individually whilst accepting the dividend of success. Have I missed the help offered by Ontario? I assume, dangerously, that BHX is not a PLC so cannot call a rights issue or issue Bonds in the usual way of big business?
 
So what is the state of play with Birmingham Airport. Is it in dire straits financially? Who actually owns BHX?
 
So what is the state of play with Birmingham Airport. Is it in dire straits financially? Who actually owns BHX?

Nobody has has overall control of BHX.

Seven West Midlands local authorities own 49%

Ontario Teachers Fund own 48.25%

Employees and ex employees own 2.75%

The reality is that the teachers fund and local authorities will need to be in agreement on major decisions provided the latter can agree among themselves (que dither and delay).

As to financial problems no idea but I imagine BHX is facing similar problems to other airports in the current climate ie tough.
 
Hi there all, I think that once we are finally over this so called virus, what needs to happen is the airport looking to other investors to come in ,have a good look at what the airport has to offer, but also what potential the airport would be able to offer if the right investment was put in place for expansion...AndyC
 
To be honest, I think this loan facility is purely just a back up and a show of offering from some councils. I’ve read the BHX holding company accounts for last financial year and they have strong liquidity (243 million cash balance) and clearly state they can cover costs for 18 months (from March ‘20) without borrowing anymore externally. I’m confident they will ride this lockdown without resorting to borrowing from local authorities
 
Hi there all, I think that once we are finally over this so called virus, what needs to happen is the airport looking to other investors to come in ,have a good look at what the airport has to offer, but also what potential the airport would be able to offer if the right investment was put in place for expansion...AndyC
BHX cannot bring in new investors, for the simple fact that BHX does not own any shares in itself that could be sold to such investors. All shares are held by the seven local councils, the Ontario Teachers Pension Plan and the employees holdings.
The only way that a new investor could be brought in, is if one or more of the current investors were to choose to sell part or all of their shareholdings. BHX management cannot force the shareholders into this.

Kevin
 
Hi there Kevin, they can if the price is right, if this new investor was prepared to aquire all of the 7 Councils for a good offer, then I don't think that the Councils would object, so it depends on what cost percentage it would be as a start off, say 400 million for 30 per cent stake, or 800 million for 49 per cent stake, leaving the employee share scheme at 2.75 %, this would then enable the new investor to look really hard again at the masterplan again, readjust it to what it was about 3-4 years ago at 30 million passengers by 2033 and not the ridiculous 5 million extra by 2033, that just five million more in 12 years time...AndyC
 
Hi there Kevin, they can if the price is right, if this new investor was prepared to aquire all of the 7 Councils for a good offer, then I don't think that the Councils would object, so it depends on what cost percentage it would be as a start off, say 400 million for 30 per cent stake, or 800 million for 49 per cent stake, leaving the employee share scheme at 2.75 %, this would then enable the new investor to look really hard again at the masterplan again, readjust it to what it was about 3-4 years ago at 30 million passengers by 2033 and not the ridiculous 5 million extra by 2033, that just five million more in 12 years time...AndyC

In the 5 years from 2012 to 2017, the airport added 4 million passengers. Even without Covid, if growth had continued at that rate, the airport would only be handling 24 million passengers by 2033. 30 million passengers is a pipe dream that isn't going to happen for several decades, if at all!

Even if BHX resumed that rate of growth once passengers levels have recovered to pre-covid levels by say 2023, the airport would be lucky to break the 20 million passenger barrier by 2033.

As things stand, 18 million passengers by 2033 is an ambitious target.
 
In the 5 years from 2012 to 2017, the airport added 4 million passengers. Even without Covid, if growth had continued at that rate, the airport would only be handling 24 million passengers by 2033. 30 million passengers is a pipe dream that isn't going to happen for several decades, if at all!

Even if BHX resumed that rate of growth once passengers levels have recovered to pre-covid levels by say 2023, the airport would be lucky to break the 20 million passenger barrier by 2033.

As things stand, 18 million passengers by 2033 is an ambitious target.
I would be happy with 18m pax by 2033 now
BHX is not for sale and if it was what would any new investor add ?
 
To be honest, I think this loan facility is purely just a back up and a show of offering from some councils. I’ve read the BHX holding company accounts for last financial year and they have strong liquidity (243 million cash balance) and clearly state they can cover costs for 18 months (from March ‘20) without borrowing anymore externally. I’m confident they will ride this lockdown without resorting to borrowing from local authorities

I think so too.

It's worth mentioning that last May MAN agreed a £260 million finance package. Manchester Council put in around £143 million with the other nine boroughs around £13 million each.


I seem to remember Luton and Heathrow also having financial assistance, there may well be others.

So it's not just Birmingham.
 
It appears that Cyprus is going to be first to welcome British tourists back, bbc are saying from May 1 Cyprus will allow tourists who have been vaccinated to travel with no need for testing or to isolate etc great for over 50’s but not sure how this would work for a family etc ?
 
Cyprus are gambling a bit on this one. No charter flights can commence until May 17th at the earliest. A pal of mine is 'stuck' over there while the Covid situation is ongoing. He tells me they have had a recent surge in cases!. Who knows what will happen between now and mid May?
 
Cyprus are gambling a bit on this one. No charter flights can commence until May 17th at the earliest. A pal of mine is 'stuck' over there while the Covid situation is ongoing. He tells me they have had a recent surge in cases!. Who knows what will happen between now and mid May?
Haven't they said they would welcome people who are vaccinated? By mid May I think the government is planning for the majority of the most vulnerable to have been vaccinated. One expert on the BBC recently said the government is underestimating the vaccine rollout and he thought the majority of the population would be vaccinated long before the official conservative estimate.
 
Haven't they said they would welcome people who are vaccinated? By mid May I think the government is planning for the majority of the most vulnerable to have been vaccinated. One expert on the BBC recently said the government is underestimating the vaccine rollout and he thought the majority of the population would be vaccinated long before the official conservative estimate.

Based on the current rate (about 2.3 million in the last 7 days), it will take until mid August to have offered a first dose to all adults.

Matt Hancock has said the second half of March will see a "bumper period" of vaccinations with up to 4 million doses a week. At that rate all adults should have been offered their first dose by the end of April (and will therefore have protection by the 17th May) with all adults offered a second dose by mid July.

The United States has targeted the end of May to have offered everyone a vaccine. Considering we're currently ahead of the USA, we should be at that point several weeks earlier (which ties into the dates I've suggested above).
 
I thought I would compile a list of expected rotations per carrier in peak Summer this year:

Aer Lingus (Incl. EIR)
50 Total (21xDUB, 6xORK, 23xBHD).
Changes DUB -5pw, ORK -7pw

Air France
21 Total CDG No change

Air India
No schedule available

Aurigny
4 Total GCI No change

Austrian Airlines
7 Total VIE No change

Balkan Holidays¹
2 Total BOJ +1 Weekly

Blue Air
3 Total OTP No change

Blue Islands
9 Total JER +5 Weekly

Brussels Airlines
6 Total BRU -17 Weekly

Eastern Airways
2 Total GIB NEW ROUTE

easyJet
64 Total (14xAMS, BFSx24,13xEDI, 13xGLA) NEW AMS ROUTE

Emirates
14 Total DXB No change

Eurowings²
8 Total (6xDUS, 2xPMI) DUS -16 Weekly, PMI +2 Weekly

Jet2
In Progress

KLM
33 Total AMS No change

Loganair
29 Total (ABZx15, IOMx7, INVx7) NEW IOM ROUTE, +3 ABZ

Lufthansa
34 Total (FRAx21, MUCx13) FRA -5 Weekly, MUC -6 Weekly

PIA
4 Total ISB +1 Weekly

Ryanair
Already reported in FR thread

SAS
11 Total CPH No change

SWISS
6 Total ZRH -7 Weekly

TUI
In Progress

Turkish Airlines
14 Total IST No change

Vueling
7 Total BCN No change

WIZZ AIR
24 Total (OTPx4, BUDx2, CLJx2, CRAx2, IASx2, KRKx3, RIXx2, VNOx2,
WAWx3, WROx2) OTP +1 Weekly

¹Balkan Holidays offering 2x Weekly departures however it is not clear who is operating flights as appears not to be BH Air, awaiting clarification from Balkan.

²Further expansion of Sun Destinations from BHX expected in coming weeks. Schedule subject to change.
 

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