dublin pilot - lots and lots of different companies all owned by a parent company, however each company a ltd company in its own right - so the loss making ones go into administration the profitable ones are held within the group for re-structure and sell off by the administrator for best value to creditors.... the administrators job is to quickly identify what is viable as a going concern and what is not - clearly shoreham was not as there are no assets, no freehold, no mortgageable equipment - and a whole bunch of debt that can only be serviced by the airfield being open......
If it is a management buyout they will need balls of steel - and a lot of help... it sounds like a lovely great idea - buying airfields - but i can assure from expereince it is not - let the cost cutting begin..........
