Originally Posted by
LTNman
Most of that debt has very little to do with Covid, as LRT stopped paying a dividend to the council and still doesn’t, ...............
According to AENA Accounts that is not so.
"To offset the loss of activity as a result of the pandemic, the sustainable recovery agreement was formalised on 17 November 2021 between London Luton Airport and Luton Borough Council, based on the Special Force Majeure (SFM) mechanism included in the concession contract, and whose final agreement foresaw a reduction of the total concession fee
of £45 million (until 2023), a concession extension of 16.5 months (from 31 March 2031 to 15 August 2032), as well as an agreement on other environmental and economic-social matters valued by both parties. A compensation mechanism for the fee provided for in the SFM was also established, although it has not had effect in 2023 or 2022, since the passenger volume for both years has exceeded those projected in the agreement forecast."
So are AENA paying the concession fees again from this year?