SWBKCB -
LGS6753 - do you work in my HR department??
Unfortunately not.
However, the success of GIP at Gatwick has been based partly on improving service standards, and I would expect MAG would want to emulate that, as well as instilling their own corporate culture on newly 'acquired' staff.
Northwest -
You are right to say that airports are cheaper to finance than other types of business, particularly if a securitisation deal can be done. It's a while since I was involved with that type of financing, so my estimate is just that - an estimate. Although LIBOR is only 0.5%, UK Gilts are trading at over 2%, so there are certainly steep gradients in interest rates. Many UK utilities are paying dividends of around 5%, so for the moment I'll stand by my estimate.