LONDON CITY - 2
Join Date: Oct 2002
Location: Bishkek (nr Luton)
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Sale Price
Don't want to be picky but believe LCY was sold to GIP for £750m (still not a bad return).
AIG, American insurer, is going to sell its 50% stake in London City airport to its partner, Global Infrastructure Partners (GIP), for an estimated £250m.
The two companies bought the airport together two years ago for around £750m. GIP, an investment fund owned by Credit Suisse, will now have full control over London City airport.
AIG sells off London City airport and other assets
AIG, American insurer, is going to sell its 50% stake in London City airport to its partner, Global Infrastructure Partners (GIP), for an estimated £250m.
The two companies bought the airport together two years ago for around £750m. GIP, an investment fund owned by Credit Suisse, will now have full control over London City airport.
AIG sells off London City airport and other assets
WHMB
You summarise the situation very accurately (unfortunately).
The purchase of airports at inflated prices over the past few years reminds me of the phrase "buy in a hurry and repent at leisure". One which would be appropriate to appear on a few boardroom walls.
You summarise the situation very accurately (unfortunately).
The purchase of airports at inflated prices over the past few years reminds me of the phrase "buy in a hurry and repent at leisure". One which would be appropriate to appear on a few boardroom walls.
Thread Starter
Dermot may have actually got £750m in his bank account, but there's a whole raft of fees etc from the hangers-on to such a transaction to get to the final amount payable. Yes, that much more ! You need to get a "professional valuation".
"How much is the airport worth".
"Oh, let me have a look. Balance Sheet, P&L, yes ..... £750m.
"Good. Thank you".
"And our fee is 1% of valuation. That's £7.5m please".
"Here".
"It's a pleasure. Who is doing your 'second opinion' valuation, by the way .... ?"
Ad nauseam, ad nauseam. Not for nothing is Mergers & Acquisitions the most profitable part of City consulting work.
"How much is the airport worth".
"Oh, let me have a look. Balance Sheet, P&L, yes ..... £750m.
"Good. Thank you".
"And our fee is 1% of valuation. That's £7.5m please".
"Here".
"It's a pleasure. Who is doing your 'second opinion' valuation, by the way .... ?"
Ad nauseam, ad nauseam. Not for nothing is Mergers & Acquisitions the most profitable part of City consulting work.
Join Date: Mar 2003
Location: Europe
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Any substantiated rumours if another carrier will replace Lufty on the DUS run? This market has been served since 1996, first by VLM via DUS Express (MGL), later by EAE and Lufthansa, and given the number of flights to LGW, LHR and STN, there should be a share for LCY as well.
Apparently, Baboo operated a GVA flight on February 10 with the jet. 
Join Date: Aug 2002
Location: London (Babylon-on-Thames)
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I note that the first scheduled movement of an E190 has gone unnoticed in this thread Apparently, Baboo operated a GVA flight on February 10 with the jet.
Join Date: Mar 2003
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Join Date: Feb 2007
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As far as I know, they only did two flights. One on the 10th and one on the 11th. Haven't seen it since.
Now it's just the BACF E190 with a regular appearance as far as I know. Pictures are on Flickr. (search for G-LCYJ)
Now it's just the BACF E190 with a regular appearance as far as I know. Pictures are on Flickr. (search for G-LCYJ)
Join Date: Jun 2002
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Could have sworn there was a Lufthansa long thin jungle jet parked next to the Bacon one for the last few days.
ps. does the BA E190 have a slower backtrack limit imposed on it compared to its baby brother?
ps. does the BA E190 have a slower backtrack limit imposed on it compared to its baby brother?
Join Date: Aug 2004
Location: UK
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I have a copy of the April OAG schedule and this indicates that LH have the 190 on LH4809 effective 29 March. As I don't have a copy of the March schedules it may be that the aircraft is already operating that service.
Cheers
MWS
Cheers
MWS
Thread Starter
Any experiences of the new security lanes in the terminal. How are things going at busy times now ?
And more importantly, are we back to 15 minutes Check-In yet ?
And more importantly, are we back to 15 minutes Check-In yet ?
Join Date: Sep 2005
Location: Inside the roster matrix
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Guys,
I used to get really upset with beeping or random searches. I now wear RAF shoes (rubber soles) and take off my belt, watch and pass (I am skint so I don't have any change to empty out). No beeping for weeks and they see that I have made an effort, so they leave the randoms for the other crew still tutting behind me. Don't fight it, you always loose.
If you are a pax, just travel light and dress for min agro. Leave your change etc. in your bag till you get the other side.
Keep breathing...it's on the checklist.
I used to get really upset with beeping or random searches. I now wear RAF shoes (rubber soles) and take off my belt, watch and pass (I am skint so I don't have any change to empty out). No beeping for weeks and they see that I have made an effort, so they leave the randoms for the other crew still tutting behind me. Don't fight it, you always loose.
If you are a pax, just travel light and dress for min agro. Leave your change etc. in your bag till you get the other side.
Keep breathing...it's on the checklist.
Join Date: Nov 1999
Location: Ireland
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LCY-Stockholm Bromma
NextJet (Swedish regional operator) have announced (google "Nextjet London City") that they will start BMA-LCY on August 16. It's unclear as yet what the aircraft type will be as their fleet is mostly ATPs, Saab 340s etc. Wetleasing in an Embraer 135 maybe? 
Join Date: Mar 2003
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Two new seasonal services by Cityjet to France:
Deauville, 24JUN10-27SEP10, MThFrSu
Brive/Dordogne, 25JUN-12SEP, FrSaSu
Guess it will be on a Dornier, but I have not checked.
Deauville, 24JUN10-27SEP10, MThFrSu
Brive/Dordogne, 25JUN-12SEP, FrSaSu
Guess it will be on a Dornier, but I have not checked.