Airport Ownership

[red dug]

Breaking news today the airport to go into public ownership with the deputy 1st announcing to MSPs at 2.30 today that the scottish government have aquired it from Infratil
Interseting times ahead

 

[TheLocalYokel]

Re: Airport sold

Interesting times indeed.

Any idea of the price paid? Very similar scenario to Cardiff Airport that was bought by the Wales Assembly Government earlier this year - at a price some commentators viewed as above market value. Its closest competitor, Bristol Airport, expressed concern that CWL might benefit disproportionately from the public purse.

I wonder if GLA (especially) and EDI will have similar worries about a publicly-owned PIK.

 

[Aviador]

Re: Airport sold

Not sure where this will all lead. As TheLocalYokel has said, Edinburgh and Glasgow airports will be concerned if Prestwick airport is allowed to offer deals to airlines that otherwise wouldn't be affordable to a private company. I guess the airport will need to operate as a limited company?

 

[red dug]

Re: Airport sold

They are doing 6 weeks due diligence and then deputy 1st minister will report back to MSPs the full story still to come out but its believed they will be getting a private firm to operate it dont know who but anyones better than at the moment

 

[News Guru]

Re: Airport sold

[textarea]Prestwick plan 'won't harm Glasgow airport'

SCOTTISH Government plans for a nationalised Prestwick Airport will not damage Glasgow Airport, the transport minister has said.

His comments at an event at the SNP party conference in Perth, echo the pledge by Deputy First Minister Nicola Sturgeon, when she announced the plans to take the Ayrshire airport into public ownership.

Keith Brown said acquisition was the only option to prevent closure and to protect thousands of jobs linked to the facility.

He said: "It is not the Scottish Government's business to go around buying airports but, given the consequences of not taking action for job losses and the economy, it was the right decision when no-one else was left standing to buy it."

Read more: http://www.eveningtimes.co.uk/news/pres ... n.22460605[/textarea]

 

[News Guru]

[textarea]Prestwick Airport set to be sold for £1

PRESTWICK Airport is expected to be sold to the Scottish Government for £1, owner Infratil said today.

The sale of the loss-making Ayrshire airport is due to be completed by Wednesday, 20 November.

Infratil said the airport’s value had been “fully impaired” - effectively written off - after Prestwick and sister airport Manston in Kent were collectively valued at £11 million in March.

The firm bought Prestwick from Stagecoach in 2001 for £33m.

Ministers are taking over the airport, which is losing £7m a year, to avert its closure and safeguard 1,400 jobs, including 300 at the airport.

In a statement, the New Zealand firm said: “The Scottish Government notified Infratil of its intention to pursue an acquisition of Prestwick Airport by 20 November. It is expected that the sale price will be £1.”

Read more: http://www.scotsman.com/news/transport/ ... -1-3185181[/textarea]

 

[red dug]

Deal concluded yesterday not sure what if any we can attract pax wise but the freight buisness should certainly be chased after i think

 

[Aviador]

Thanks for keeping us informed red dug. How times have changed. From now onwards the airport needs to concentrate on what it's good at which is maintenance and cargo. Anything else is a bonus. Regional airports are generally valued less than they were pre the economic crunch. Newcastle airport was valued about a third less than it was prior the global financial problems. It could take many years for the value of regional airports to recover.

 

[News Guru]

[textarea]Business concern in Glasgow over Prestwick Airport deal

The Scottish government hopes to eventually return Prestwick to private ownership

Business leaders fear Glasgow Airport could suffer after nearby Prestwick was bought by the Scottish government.

Ministers concluded a deal for £1 last week to bring the loss-making Ayrshire airport into public ownership.

That has prompted Glasgow Chamber of Commerce to say the move "may have detrimental effects" for the city.

It has written to ministers asking for the government to explain its aviation strategy and "clarify the competitive playing field" for Glasgow Airport.

Read more:http://www.bbc.co.uk/news/uk-scotland-glasgow-west-25091100[/textarea]