As far as LBC are concerned, the Concession Agreement has been an awesomely successful decision...
So why has no other former council-owned UK airport followed suit?
The Concession may be generating ££££s for LBC but it's not enabling LTN to expand or develop as any business needs to do.
The investment required to keep LTN competitive is vast, and it simply doesn't make a viable business case over the remaining concession period.
Furthermore, with the almost certain major downturn in aviation business likely over the next two to three years, the 'cash cow' may not continue to produce the level of income to which LBC and its council tax payers have become accustomed.
Undoubtedly, if LGW is hived off from BAA and if Abertis does manage to buy it (I agree a rather big IF...), rest assured, the company's interest in LTN and LBC will cease pretty rapidly.