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Old 13th Jan 2009, 14:12
  #42 (permalink)  
Chimbu chuckles

Grandpa Aerotart
 
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Has it occurred to anyone else that the 'business plan' that the purchase of the GAAP aerodromes was based on may not survive a decent recession...like the one we are on the brink of at the moment.

Seems to me the next shoe to fall in the massive worldwide de-leveraging we are seeing is commercial property...plumeting values and relatively meager returns from industrial real estate faced with low occupancy rates and very tight financing requirements, if you can get it at all, might see these blood suckers off.

Will be painful in the short/medium term as they attempt to 'maximise shareholder returns' out of the few remaining aviation businesses as the non aviation businesses on the aerodromes shut down/go broke etc and new tenants suddenly aint so thick on the ground as they were in the last 10 years.

Might be interesting to watch...would the GAAPs back in Govt control be a possible outcome...or even better sold off to a consortium of the airport's aviation tenants at cents on the $ because the lease says 'Must remain an airport' and the BAL goes broke?

Nice to dream anyway.
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