Originally Posted by
ScotsSLF
Also in terms of the monies being invested by the Government into PIK my understanding is that they are in the form of a low interest repayable loan, payable when the airfield is sold on to a private concern.
The trouble is that as the size of that "loan", accumulates over time, PIK would paradoxically become an increasingly unattractive investment for a private concern since they would become liable to take on the debt.
Unless, of course, the loan is written off as a sweetener.........
But thank you for a an objective response. There's not enough of that around here.