Originally Posted by
pabely
Got to agree with you on that one. I think the big mistake was made around 2004 when they were allowed to start the big investments. At that point they should have brought in Beds, Herts and Bucks CCs and private equity to finance but more importantly create a holding company to run the operation on the lines of MAG where direct control was out of the hands of Councillor's - but that would involve less of a return to LBC coffers in good times so was seen as not a voter winner at the time.
More like 2017 when the money was starting to be dished out. The council was the lender to LRT so if LRT defaulted on its loans, like it did in 2020, the airport would not end up in the hands of a third party lender who would have claimed the airport as the security of its loans.