People still seem to be struggling to grasp the difference between ownership and management at LBA. Bridgepoint are the owners, not the management and Parkin, Hallwood et al are the management, not the owners. The owners are private equity investment specialists, not aviation specialists. The reverse is true of the management. So, Bridgepoint buy the airport as an investment, make a number of high-profile appointments from the world of UK regional airport management and set them the task of turning the airport from a business worth £150m into one worth considerably more than that. Parkin came on board in September last year and it then took until April to clear the decks and get his own people in the key marketing, finance and commercial roles. Being mindful of the present economic conditions, I'd start the clock ticking in terms of LBAs development from the time the new-management team was put in situ and judge the results from that point onwards. Again, considering the pressure the industry and the wider economny is under, I'd say the early signs are quite encouraging.
682