Yep you cannot read it any other way, and I can understand there distress at the announcement and the MP's comments, it in effect wipes out a main asset, customers. One does wonder if that was the plan all along... Or am I being cynical.
Details of the bidder here:
THE American firm behind the rejected Manston airport offer has been named as RiverOak Investment Corp LLC of Stamford Connecticut.
A statement released by the group says it offered airport owner Ann Gloag a price “significantly higher than the entire capital investment expended by the current owner since Manston was purchased in November of last year.”
It is understood Mrs Gloag has invested some £1.5 million with another £2.5 million in reserve. The offer is understood to have been above £4 million.
In a statement a RiverOak spokesman said: “ RiverOak currently has $350 million of assets under management with a number of operating partners and has a successful track record of turning around troubled operating and real estate assets.
“In this particular project, RiverOak is the capital partner of a number of aviation operating entities specialising in aircraft maintenance and cargo operations, and principal partners at RiverOak have extensive US experience with the capital markets and debt restructuring of a number of major airport assets, one of which is a singular maintenance and cargo hub in Texas.
“RiverOak has developed a long term plan to own and manage Manston as an airport in line with its investment philosophy of diversified investing in asset backed businesses. RiverOak remains committed to investing in and developing Manston as a successful diversified aviation services, cargo and potential future passenger airport facility, and values Manston as an important piece of aviation infrastructure that is very important to both Kent specifically and the United Kingdom in general.
“RiverOak is distressed to learn of the announced closure of Manston today and remains willing to engage with all parties to achieve a solution which allows the airport to continue operating and preserves the jobs of its staff.”
The firm is backed by MP Sir Roger Gale who says he is convinced it is a viable offer. He said the decision to close the site when the money and plan is there to buy Manston as an operating airport amounted to “corporate vandalism.”
But, he said, he remains hopeful that Mrs Gloag will reconsider the bid.
From
Manston airport buyer group revealed | Thanet Gazette