higher
22nd May 2003, 15:42
BHD Belfast city airport has finally been sold rumour has it there will lots of tapis bars shortly "the spanish are coming the spanish are coming" perhaps they will add a bit of sunshine to the place. cant help thinking will we see a big red jag in the car park with a cup of sugar for the new neighbours. i wonder mmm:hmm: :ok: :E
ajamieson
23rd May 2003, 01:19
PA NEWS GENFAX-22MAY03
1 ULSTER Airport 16:42GMT
The sale of Belfast City Airport by its cash-strapped Canadian owner was poised to be announced tonight.
Spanish engineering and construction giant Ferrovial is due to be named tomorrow as the winner of a nine-month long fight to secure the regional airport on the edge of east Belfast.
Regional jet manufacturer Bombardier Aerospace, which has owned the airport since buying neighbouring Shorts Aerospace from the Government in 1989, has had the airport on the market since last September.
Bombardier has been involved in months of negotiations with up to five companies, including TBI, owners of the rival Belfast International Airport.
Ferrovial edged ahead of the pack in recent weeks and recently Bombardier’s Canadian based president and chief executive Paul Tellier let the cat out of the bag when he indicated a sale would be completed before the end of the month and that it would probably go to a buyer with “Spanish elements”.
Ferrovial has interests in 11 airports around the world and is bidding for stakes in four others.
But to date its only UK holding is a stake in Bristol airport.
It is not known whether the £40 million price tag put on Belfast City by Bombardier has been met.
A Bombardier spokesman in Belfast would only say tonight: “We are in discussions with a potential purchaser.” Everything was confidential until the deal was announced.
Government sources in Belfast said they were poised for the announcement of the sale tomorrow.
The Canadian aerospace giant decided to sell off the profit-making airport last September as part of a major overhaul of its operations in the wake of the September 11 terrorist attacks and global economic downturn which sent the aviation industry into a nose dive.
Bombardier last year reported losses of over £270 million and engaged in a major restructuring which has seen the axing of thousands of jobs and sale of assets.
It says it no longer sees the Belfast airport as a “core part of its business strategy”.
Only last year a new terminal opened at the airport after Bombardier spent £22 million up-grading facilities.
Three main airlines use the airport – bmi British Midland, British Airways CitiExpress and flbe – serving 18 destinations in the UK.
A new twice daily service to Dublin opens in mid-June, operated by Irish airline Aer Arann Express.
This year approximately 1.8 million passengers are expected to use the airport where around 800 people work – 360 employed directly and 450 by airlines and other concerns.
Ferrovial has existing transportation links with Ireland.
In March one of its subsidiaries was named as the leader of a consortium granted the concession for the first toll motorway in the Irish Republic to be funded, constructed and operated by the private sector.
The 400million euro (£285m) project is part of the corridor linking Dublin to the north west and is due to be completed in 2006.
It has also been shortlisted for the Dundalk Western By-Pass on the main Belfast to Dublin road.
ends