I know little about Alderney, but I do know a fair bit about developing airports and what it costs to do so.
£10m will not cover half of what has been quoted by five by zero.
Once the airport is sold, the present owners get no income from it & I doubt that the States would let it be sold for nothing.
So before he can redevelop the airport, Mr Holding has to buy it, after which he has to fork out for:
New runway (it will probably have to be entirely rebuilt rather than extending) with basic lighting: £3m
New terminal and re equipped ATC facility & new Fire station £4m
New apron: £ 1- 2m
New hangar £ 1- 2m.
Costs of air park construction £1m.
Even in the best case scenario, the bill goes beyond £10m on facilities which I understand need upgrading now - not over the next five years - otherwise the airport will not attract new operators to get the financial return.
I am all for private enterprise and business success, but the people of Alderny should be asking some serious questions of Mr Holding's ability to sustain the investment and exactly where the money is coming from.
I assume that much of it will be borrowed, how will the debt be serviced until the new revenue starts flowing in?
Like many islands, the airport is a vital part of Alderny's infrastructure and they can't afford to lose the facility if the promises didn't materlialise.