We have just suffered a massive recession. There is more than one aggressive competitor looking to grow a similar market. The current owners were (allegedly)responsible for turning down a very substantial player in the European market. This is an opportunity for BIAL to advance.
It seems like they (Spanish) have just ridden the Easy cash cow but who is to say what goes on behind the scenes? If it has been the case that the owners have hamstrung the current directors' business development efforts, the sale can only be a good thing. Based on the price they have reportedly paid, BFS will make up the main asset in those purchased and when you read their website they do seem to buy, invest and then sell on (Toronto and Budapest being the examples) It just depends on whether they can find any wiggle room for growth with a (part)state funded major international airport 2 hours down the road. Lets face it, Dublin is the reason we have been talking for so long about why there are no major route announcements from BFS and not the lack of effort by the BFS management.