PRESTWICK
Join Date: Aug 2002
Location: Scotland
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Well its just in the news today that the CEO and one or two others are going soon, I guess that could be good news depending on your viewpoint!
Prestwick Airport chief executive Iain Cochrane to leave job - BBC News
Quotes like:
Difficult not to read things into those quotes imo!
Prestwick Airport chief executive Iain Cochrane to leave job - BBC News
Quotes like:
"The future of Glasgow Prestwick is likely to be quite different from the past."
"The business model needs to be both re-designed and delivered rapidly"
"fundamental re-positioning"
"The business model needs to be both re-designed and delivered rapidly"
"fundamental re-positioning"
Join Date: Nov 2006
Location: Northern Ireland
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Does this fundamental repositioning mean focusing exclusively on freight at the cost of passenger operations give that this area is hard to grow and hotly contested v GLA hence unfruitful?
Join Date: Mar 2013
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Doesnt mean jott, while its mismanaged by SNP. Will be in same quagmire this time next year (or until any elections out of the way), haemhorraging taxpayers money with zero return. #buildhouses
Join Date: Feb 2007
Location: GLASGOW
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The original decision to buy it, was wrong. It was a political decision of ridiculous negative proportions. Bluntly the place should have been closed a decade ago. But, we are where we are. What to do. Changing the mgt team, in the usual merry go round, is not helpful. At least Cochrane knew the issues inside out. That may well be the problem of course for the Govt. There is no life saver, no carrier waiting the wings, to whisk it into financial profitability. Not that long ago the terminal was a dance hall/rave club. The issue Scotland has, that affects every aspect of life here, is no people. Lack of population. Lack of wealthy individuals. I was in Bristol last week. Easyjet, Gla-Bristol was full, taking Scots to Bristol, to get cheap package holiday deals. Bizarre. So, give all the holiday firms zero cost for five years to operate from PIK. Make it a package holiday hub. Get BAA in on the act, to assist in the revival of PIK, subsidise Glasgow, build the rail route for it, whilst driving flights to PIK. Because if something is not done, then it needs to close ASAP, before it becomes a total cluster....
Join Date: Apr 2004
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Finally. 
The new non-exec directors have decided that the old team were not capable and had been given enough time to prove themselves.
PIK has the potential to become a niche airport filling the gaps that ABZ, EDI and GLA cannot. Maybe a new management team with bit of imagination flair and nouse can make a start on re-engineering a business that could generate business and employment in a blighted area of Scotland.
The new non-exec directors have decided that the old team were not capable and had been given enough time to prove themselves.
PIK has the potential to become a niche airport filling the gaps that ABZ, EDI and GLA cannot. Maybe a new management team with bit of imagination flair and nouse can make a start on re-engineering a business that could generate business and employment in a blighted area of Scotland.
Join Date: Aug 2002
Location: London (Babylon-on-Thames)
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GLA-BRS to get a package tour? BRS has a fraction of the based sunbound flights GLA has, best not extrapolate much from a teeny sample size. Ten year ago btw PIK was doing well, the last rave was.....over two decades ago.
BAA do not exist anymore and AGS, the new owners of GLA would love to see PIK close and get the remaining FR operation into GLA, where the infrastructure is now in place. You're right in that I see no operator who would or could put enough volume through PIK to balance the books. That leaves cost cutting and, let's be honest, we know what will be cut. The 1964 built glass terminal needs to go. Traffic througput is tech and cargo, it does not need that millstone to hold it back, GLA can pick up FR and make money where I suspect PIK just bleed cash on that deal.
Saving the airport was bang on a good idea, it's a taxpayer built national asset. It just needs someone to keep it running at a small profit in the right niche and support the economy.
BAA do not exist anymore and AGS, the new owners of GLA would love to see PIK close and get the remaining FR operation into GLA, where the infrastructure is now in place. You're right in that I see no operator who would or could put enough volume through PIK to balance the books. That leaves cost cutting and, let's be honest, we know what will be cut. The 1964 built glass terminal needs to go. Traffic througput is tech and cargo, it does not need that millstone to hold it back, GLA can pick up FR and make money where I suspect PIK just bleed cash on that deal.
Saving the airport was bang on a good idea, it's a taxpayer built national asset. It just needs someone to keep it running at a small profit in the right niche and support the economy.
Join Date: Feb 2007
Location: GLASGOW
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Ten year ago btw PIK was doing well, the last rave was.....over two decades ago.
Join Date: Nov 2012
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While I agree with Skipness that PIK's future as a passenger airport is (extremely) doubtful, I'm not optimistic that the airport can make a 'small profit' on the basis of non-pax operations. The Audit Scotland report includes the statement that the business plan shows that the airport is 'not viable without Ryanair'.
Sadly I think PIK is fated to be a cash pit, with or without Ryanair (or any other realistic pax operator). Whether the Scottish taxpayers should continue to absorb PIK's losses indefinitely for wider economic reasons is a political decision. But I think we need to be realistic about the airport's financial prospects.
Sadly I think PIK is fated to be a cash pit, with or without Ryanair (or any other realistic pax operator). Whether the Scottish taxpayers should continue to absorb PIK's losses indefinitely for wider economic reasons is a political decision. But I think we need to be realistic about the airport's financial prospects.
Join Date: Nov 2010
Location: Scotland
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Finally some positive news as regards new capability being brought in and a realisation that a different business model has to be constructed. Despite Maxred's comments about PIK never having 'done well' and VV's #buildhouses jibe, I think you'll find that the runways are here to stay. The biggest liability is the terminal and whilst that in time may be lost the airfield will almost certainly remain. Interestingly to counter Maxred's 'never done well' comment I spent time with the original PIK management (Mathew Hudson et al) when it took over the airport after it was dumped by BAA and they eventually got the place making a profit. It was then sold on to Stagecoach. It was always going to be put under pressure when GLA and EDI went into private hands and to be honest the business model which relies on PAX should have been changed years ago. It's good to see that the FBO appears to be doing OK (despite the doom merchants predicting otherwise) and the airfield still remains fairly active with FBO traffic, military activity, GA , cargo and training flights. Hopefully the new business model will focus on the present activity and maximise this. PAX? I still have my doubts as to the long term viability - I still have a vision of an Aerospace Museum on the site and I look forward to continued aviation activity even if it is mixed in with the odd spaceship! But houses - sorry to disappoint you VV but we've enough house building going on in Ayrshire. It aint going to happen.
Join Date: Nov 2000
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Actually, I agree with Skipness. I would think that if the terminal was closed and probably demolished to save the on-going costs that would still exist if it was just mothballed, then with a mix of cargo, tech stops, crew training etc Prestwick could just about wash its face financially or at least stem its losses considerably. I think under those circumstances it would be short sighted to close the whole airport - no one in aviation wants to see a 9,800 foot runway lost.
Join Date: Aug 2002
Location: London (Babylon-on-Thames)
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OK "doing well" was loose language, they managed to turn an operating profit on a tight ship for a number of years then lost control of costs as focus was lost.
Keep up with the times or die, personally the Virgin B787-9 was one of the nicest things I have yet to see in the PIK circuit with my own eyes, tis "plastic" but has two professionals up front. The accident rate of Sky Gods manually flying B707s and DC8s into the ground in those halcyon days of the jet age is frankly a blood stained piece of carnage modern CRM has almost put to bed. There is an argument we've gone too far in automation but the old pilots who took the reins of first generation jets were perhaps not best suited to fly them. Really.
If they shut it then fair enough, Scotland has no capacity for heavy main deck freight whatsoever and both GLA/EDI are constrained.
Do you mean Hugh Lang perchance btw?
But, all those types have gone and been replaced by plastic planes, that do not require pilots..
If they shut it then fair enough, Scotland has no capacity for heavy main deck freight whatsoever and both GLA/EDI are constrained.
Do you mean Hugh Lang perchance btw?
Join Date: Feb 2007
Location: GLASGOW
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Well, I think it is wonderland to think that a mish mash of movement can make money. Where is all the money coming from to demolish terminals, and rebuild, what exactly?
The new team? Hopefully not a Michelle Mone type of non exec
Look, if the business is not there, it cannot be drummed up. If a private operator cannot make it work, I doubt very much a public quango can. Have we not been there, done that?
I enquired about a hangar recently. Back came the standard, 36k per annum rent, business rates at 54k. I asked about any incentives - answer - NO. Sorry I think I rest my case.
The new team? Hopefully not a Michelle Mone type of non exec
Look, if the business is not there, it cannot be drummed up. If a private operator cannot make it work, I doubt very much a public quango can. Have we not been there, done that?
I enquired about a hangar recently. Back came the standard, 36k per annum rent, business rates at 54k. I asked about any incentives - answer - NO. Sorry I think I rest my case.
Join Date: Aug 2002
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Well, I think it is wonderland to think that a mish mash of movement can make money. Where is all the money coming from to demolish terminals, and rebuild, what exactly?
Take the strategic decision that money cannot be made in traditional passenger services and present a business case based on cargo, tech stops and training which does keep the movements up. If they can't get the cost base down to make something on that then it's game over.
You may well be right, I admit I am doing heart over head on this one.
Join Date: Feb 2007
Location: GLASGOW
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Yes, totally with you on the heart v head. It would be a sad day if it closed, and I certainly would not want that, however, with the Oban shambles, the Air service, and now this, the public purse, in times of austerity, is being stretched, supporting loss making, aviation, dead ducks.
It was HL BTW.
It was HL BTW.
Join Date: Apr 2007
Location: Prestwick
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The usual utter tripe being posted here by people who know hee haw about PIK.
BEFORE Ryanair, PIK made a profit out of a daily Fed Ex DC-10.
At the moment, English holiday makers are flying out of Prestwick in their droves.Simple - if it`s cheap enough, people will travel to PIK to fly.
I have no doubt with the right management team in place, other carriers will come, even if it is bucket and spade. So sorry to disappoint, but you can forget a new housing estate any time soon!!!!
BEFORE Ryanair, PIK made a profit out of a daily Fed Ex DC-10.
At the moment, English holiday makers are flying out of Prestwick in their droves.Simple - if it`s cheap enough, people will travel to PIK to fly.
I have no doubt with the right management team in place, other carriers will come, even if it is bucket and spade. So sorry to disappoint, but you can forget a new housing estate any time soon!!!!
Join Date: Feb 2007
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The usual utter tripe being posted here by people who know hee haw about PIK.
You have all the answers, why did you not buy it? I am sure you had a pound in your pocket
English holiday makers are flying out of Prestwick in their droves.Simple - if it`s cheap enough, people will travel to PIK to fly.
Join Date: Feb 2007
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Ok, I visited the EGPK movements site. In the 12 days of August, 80 movements have been logged. One has to assume these are revenue generators. Average 6 a day. Give Ryanair, 8 movements a day, they are non revenue.
Check this out, you can read and interpret a balance sheet, yes?
http://www.glasgowprestwick.com/user...-31-Mar-14.pdf
The consolidated £26.686,000 loss, (13/14) included a £4.5m loan from the government. The latest, on top of that lot, is a shortfall 2014-2015, of estimated £13.5m.
Check this out, you can read and interpret a balance sheet, yes?
http://www.glasgowprestwick.com/user...-31-Mar-14.pdf
The consolidated £26.686,000 loss, (13/14) included a £4.5m loan from the government. The latest, on top of that lot, is a shortfall 2014-2015, of estimated £13.5m.
Join Date: Feb 2003
Location: Houston, Scotland
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"At the moment, English holiday makers are flying out of Prestwick in their droves"
I wouldn't shout about that to much if I was you as if the demand is that great maybe its time FR move their flights south of the border to catch those English passengers traveling in their "droves" from PIK. That is the Logical conclusion to that statement I think.
I wouldn't shout about that to much if I was you as if the demand is that great maybe its time FR move their flights south of the border to catch those English passengers traveling in their "droves" from PIK. That is the Logical conclusion to that statement I think.
Join Date: Feb 2003
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"BEFORE Ryanair, PIK made a profit out of a daily Fed Ex DC-10."
Its fine making a profit but it needs to make big money to invest in its infrastructure. GLA and EDI are making profits between £20m and £30m and thats the kinda money PIk will need to make if it wants to remain open. As I understand it PIKs runway has never had a major overhaul since BAA sold it in 92 which is concerning to say the least given that most airports get 10 to 13 years out of their runways life.
One other thing worth noting about PIKs profits. The most I can remember PIK holdings reporting in the way of profits was around the £4.2m, but if you broke that down between PIK handling, PIK cargo, PIK airport and PIK bonding its worth noting that PIK "airport" as I understand it has never made an actual profit with only the bonding operation returning a significant profit.
Its fine making a profit but it needs to make big money to invest in its infrastructure. GLA and EDI are making profits between £20m and £30m and thats the kinda money PIk will need to make if it wants to remain open. As I understand it PIKs runway has never had a major overhaul since BAA sold it in 92 which is concerning to say the least given that most airports get 10 to 13 years out of their runways life.
One other thing worth noting about PIKs profits. The most I can remember PIK holdings reporting in the way of profits was around the £4.2m, but if you broke that down between PIK handling, PIK cargo, PIK airport and PIK bonding its worth noting that PIK "airport" as I understand it has never made an actual profit with only the bonding operation returning a significant profit.