NorthSouth
It's not a pretty picture but as soon as you hand over responsibility for airports from local authorities to (ultimately) some overseas asset-stripper you have to accept the consequences
You don't actually have to even look overseas.
Peel only sold 65% of it's airports business to VAS, Peel airports owns 75% of DTV. One way or another then there is I suspect an element of "Jam tommorrow" in the deal for Peel
As per last published figures for Peel Holdings :-
The latest accounts, for the year to March 2009, showed a 9 per cent fall in turnover from £53.4m to £48m, with pre-tax losses widening from £4.6m to £13m. Net debt grew to £105.5m.. Then in reality what do you expect VAS to do ? The introduction of the odd twice weekly flight to "where ever" in the greater context of the situation at DTV is unlikely to change much at all.
I recall reading some reference to the fact that VAS were to turn their attention to DTV in the first instance "cuts both ways" in my view, another winter in deficit ?
