Andy H52
The auditors' qualification means that it is probably more serious than you think. Yes, all airports have to refinance their debts when they fall due. The problem arises when existing bank debt has to be repaid (as seems to be the case at LPL) and the banks are no longer willing to lend as much to the airport as they did in the past. When this has happened elsewhere (eg Bristol) the shareholders have had deep pockets and have made up the difference from their own resources. In the case of LPL it is far from clear that Vantage, for example, have the funds to do this, now that their tie-up with Citibank has fallen away.
The airport will continue operating, but the future ownership structure may change.