Extract from the Telegraph
I'm not entirely sure I'm allowed to do this but this is in today's Telegraph (26/10/06).
"THE sale of Leeds Bradford International Airport is set to take off next month when its owners issue an information flyer seeking bids in excess of pounds 100m.
Leeds Bradford's five local authority owners have hired accountants Ernst & Young to handle the sale of the latest UK regional airport to be put on the block.
They hope to capitalise on the strong bidding interest in airport assets following the pounds 750m sale of London City Airport and the pounds 60m sale of Exeter, both of which fetched better-than-expected prices.
The fast-growing Leeds Bradford hit the headlines earlier this month when a Sun reporter claimed she had boarded a plane wearing a Muslim niqab veil without being asked to show her face for passport checks.
However, it is the forecasts for passenger traffic growth which will catch the attention of bidders. The flyer is expected to show that the single runway airport has seen a 183pc rise in passenger traffic over the past decade, up from 922,976 passengers in 1995 to 2.61m last year.
Total turnover is up from pounds 17.6m in the year to March 2002 to pounds 21.02m in the most recent financial year, when profits slipped from pounds 881,000 to pounds 788,000 pre-tax. Net assets increased from pounds 31.1m to pounds 34.2m last year. While profits are low, one banker said: "Airports are being sold on passenger forecasts, not earnings multiples.''
Leeds Bradford is expecting rapid passenger growth, partly owing to the expansion of Jet2, owned by the private Dart Group. Jet2 passengers at Leeds Bradford rose by 17pc last year. Other customers include Bmi and KLM Cityhopper.
Leeds Bradford directors expect passenger traffic to top 3m in the next two years and reach 5m passengers by 2015.
The airport is situated at one of the biggest conurbations outside London, but loses traffic to neighbouring airports, including Manchester.
Leeds and Bradford councils each own 40pc of the airport, with Calderdale, Kirklees and Wakefield councils holding the rest of the shares.
Some of the losing bidders for Exeter Airport, including the Low Cost Airport Group led by Blackpool Airport owner Paul Whelan, and Save, the Italian operator of Venice Marco Polo airport, are expected to take a look at Leeds Bradford. Abertis, the owner of Luton Airport, Balfour Beatty, which successfully bid for Exeter, and various private equity groups are also likely to be interested.
Leeds Bradford expects to complete the sale in the first quarter of next year".
> Sale by first quarter next year - they're not hanging around.