Air Southwest
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Location: A different hotel to the one crewing told me...
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Jetstream, thats an interesting one. Tricky Dicky would have Flybe to contend with over NQY routes, and would have to abandon PLH, as the wetdream and the Saab are no use when its wet or warm or icy. So, maybe not quite so easy for him as you think. More likely he just doesn't want to chance expanding westwards into BE's neighbourhood?
Join Date: Oct 2007
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I'm getting that deja vu feeling - didn't they have a little operation called 'cityflyer'?
Why would they want to do that again?
Why would they want to do that again?
SZ could quite easily be brought under the banner of Cityflyer and then expanded to add capacity, frequencies and routes at LGW, especially if rumours of longhaul expansion by BA at LGW are correct.
CS
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SZ could quite easily be brought under the banner of Cityflyer and then expanded to add capacity, frequencies and routes at LGW, especially if rumours of longhaul expansion by BA at LGW are correct.
Join Date: Nov 1999
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), they don't need to acquire SZ. To suggest otherwise is somewhat delusional.
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The only chance of 'selling' ASW is to some entrepreneurial group that wants a punt on an airline, No other carrier is going to 'buy' it. Absorb any useful part of it perhaps but thats about all.
Join Date: Aug 2001
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So lets get this straight BA would buy an airline back that it used to own in the first place when it was called Brymon and other assorted names? Yep the airline industry is truly a mad place to work!!!!!
Join Date: Nov 2003
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interesting factual insight.. unlike most posts on this thread
LONDON (SHARECAST) - Crystal Amber Fund has increased its stake in fellow AIM-quoted firm Sutton Harbour, which is trying to sell its airline business, to more than 10%.
Investment company Crystal Amber has taken its stake in the property regeneration and harbour operating business from 9.12% to 10.03%.
Sutton Harbour is in talks to sell its regional airline Air Southwest, which is currently losing money. Crystal Amber is supportive of this move because it is keen for Sutton Harbour to do something about the cash outflow from the airline. This will enable Sutton Harbour to concentrate on the property regeneration and harbour activities.
Negotiations to sell the airline are continuing and management is hopeful that they can be concluded in the near future.
Despite the airline’s loss, Sutton Harbour turned a loss of £3.4m into a profit of £2.5m in 2009-10. The sale of a tranche of land at Plymouth Airport helped to boost profit. A lower impairment charge and reduced interest costs also helped. The company’s net asset value is £43.1m.
A share issue raised £6.7m last year. Net debt was £15m at the end of March 2010 and it should stay at around that level this year.
This year’s profit is underpinned by the sale of another tranche of land at Plymouth Airport. Arden forecasts a profit of £3.5m this year and £3.8m next year.
Investment company Crystal Amber has taken its stake in the property regeneration and harbour operating business from 9.12% to 10.03%.
Sutton Harbour is in talks to sell its regional airline Air Southwest, which is currently losing money. Crystal Amber is supportive of this move because it is keen for Sutton Harbour to do something about the cash outflow from the airline. This will enable Sutton Harbour to concentrate on the property regeneration and harbour activities.
Negotiations to sell the airline are continuing and management is hopeful that they can be concluded in the near future.
Despite the airline’s loss, Sutton Harbour turned a loss of £3.4m into a profit of £2.5m in 2009-10. The sale of a tranche of land at Plymouth Airport helped to boost profit. A lower impairment charge and reduced interest costs also helped. The company’s net asset value is £43.1m.
A share issue raised £6.7m last year. Net debt was £15m at the end of March 2010 and it should stay at around that level this year.
This year’s profit is underpinned by the sale of another tranche of land at Plymouth Airport. Arden forecasts a profit of £3.5m this year and £3.8m next year.
Join Date: Aug 2008
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Air Southwest/ Plymouth Airport
Hi,
I couldn't find the other topic(s) to ask this question so i made a new one so i could ask and other people can find this easier:
1. Has there been any development on the purchase of Air Southwest?
2. Has there been any development on Plymouth Airport masterplan? Has worked started?
Dale Johnson
I couldn't find the other topic(s) to ask this question so i made a new one so i could ask and other people can find this easier:
1. Has there been any development on the purchase of Air Southwest?
2. Has there been any development on Plymouth Airport masterplan? Has worked started?
Dale Johnson
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dale 123 - look at it this way. You own a fruit stall in the market and there are a dozen other fruit stalls in the same street but the bloke next door who just lost nearly four million quid wants to get out and 'sell' you his. Would you buy it?
On the other hand if you only sold bread and fancied selling fruit you might think about it....
On the other hand if you only sold bread and fancied selling fruit you might think about it....
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The only reason Flybe may want ASW is to wipe it off the face of the earth. I am sure the competition commission would have something to to say about that though. ASW is absolutely no good to Flybe as a business, they won't want the aircraft, they won't want the crews, they won't want anything to do with Plymouth Airport.
You have to question SH's motivations for selling, £3.5m loss for an airline with 5 aircraft is a massive loss. One has to wonder what the underlying agenda is. The speculator would guess at selling it off, selling off Plymouth Airport for real estate and moving out of the airline sector.
You have to question SH's motivations for selling, £3.5m loss for an airline with 5 aircraft is a massive loss. One has to wonder what the underlying agenda is. The speculator would guess at selling it off, selling off Plymouth Airport for real estate and moving out of the airline sector.
Join Date: Nov 2005
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According to their last report to their share holders the defecit in ASWs books has been covered by the sale of the land at Plymouth Airport and to get that back it looks like they need to sell ASW to cover that so the redevelopment can go ahead and also the lease on two of its dash 8s is up for grabs this year so i think eventually it will be buy buy as with most private companies if it doesnt make a profit it goes.
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Footster... Punctuation perhaps?
Let's remember that ASW only made a loss last year, prior to this it has been successfully turning profits.
Let's also remember that ASW single handedly has to fund the running of PLH, and pay the ground handling staff there... Probably costing hundreds of thousands (if not millions) per year.
A way needs to be found to separate ASW and PLH. I'm sure that if they simply flew five aircraft around, doing niche routes and paying only for handling (like most other airlines at most other airports), they would make a fair few quid.
Whether PLH itself can survive if this is the case is different. But if Air Southwest as an airline want to survive I don't think they have much other option than to dump responsibility for PLH.
Let's remember that ASW only made a loss last year, prior to this it has been successfully turning profits.
Let's also remember that ASW single handedly has to fund the running of PLH, and pay the ground handling staff there... Probably costing hundreds of thousands (if not millions) per year.
A way needs to be found to separate ASW and PLH. I'm sure that if they simply flew five aircraft around, doing niche routes and paying only for handling (like most other airlines at most other airports), they would make a fair few quid.
Whether PLH itself can survive if this is the case is different. But if Air Southwest as an airline want to survive I don't think they have much other option than to dump responsibility for PLH.
Join Date: Nov 2005
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Groundhog yes i did mean bye bye as regards to SHH selling ASW. SHH are into property development not transport. Plymouth City Airport gives them a win win situation. Airport gets used and survives and makes money SHH win. Airport doesnt get used loses money sell the land and make vast amounts of money from the sale SHH win yet again.It may very well be a first year loss for ASW but with SHH having a lack of ambition for the airline (which it seems correct from some of the posts on here) one years loss is too much for SHH.
Join Date: Aug 2008
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I think to be Honest, The only way the airport will expand is by SSH selling it. I bet within 2 years of ASW being sold, They would have expanded into a great airline
Dale
Dale
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I beleive that Plymouth Airports future depends on the guarantees that SHH get from the purchasers as to the use of Plymouth and that is why the redevelopment hasnt gone ahead as of yet. As with Newquay vast sums of money invested in development does guarantee you a busy airport with many airlines using it.I hope that ASW and Plymouth Airport continue to thrive together as I can continue the 40+ years of going up there and watch them flourish in more years to come.
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Agree with you 100% footster what UK PLC needs right now is more jobs, a growing economy and a better future for everyone. Where I do not agree though is that by pumping vast sums of cash into an airport increased passenger movement is guaranteed.