MANSTON -3
Join Date: Mar 2005
Location: Orange County
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The March report:
Kent International handled 2,914 tonnes of freight in March, up 16% against February but down 19% against the March 2008.
For the year, freight was 22,987 tonnes down 29% on the previous 12 months mainly due to the loss of traffic associated with the administration of MK Airlines.
Kent International handled 2,914 tonnes of freight in March, up 16% against February but down 19% against the March 2008.
For the year, freight was 22,987 tonnes down 29% on the previous 12 months mainly due to the loss of traffic associated with the administration of MK Airlines.
Join Date: Aug 2003
Location: uk
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There was a time that I would have fully expected Infratil to pack up and sell off Manston to any developer - aviation or otherwise - who would pay the going rate.
It seems that Manston is operated as a stand alone company within the Infratil Group and, like many other airport companies (and a few soccer clubs), that Infratil have taken out secured loans against the equity within Manston to repay their initial investment and development costs.
Consequently, if Manston Airport have a business plan which involves containing financial losses for this year to strict limits, no breach of bank covenants and no reason for the investors to have to inject any more money, I am sure that Infratil will be in there for some time to come.
If however, any more significant injection of cash is required to cover losses then Infratil could either sell and take any profit, or, if things are really that bad, put the place into liquidation and walk away with no loss to themselves.
It seems that Manston is operated as a stand alone company within the Infratil Group and, like many other airport companies (and a few soccer clubs), that Infratil have taken out secured loans against the equity within Manston to repay their initial investment and development costs.
Consequently, if Manston Airport have a business plan which involves containing financial losses for this year to strict limits, no breach of bank covenants and no reason for the investors to have to inject any more money, I am sure that Infratil will be in there for some time to come.
If however, any more significant injection of cash is required to cover losses then Infratil could either sell and take any profit, or, if things are really that bad, put the place into liquidation and walk away with no loss to themselves.
Join Date: May 2006
Location: Ramsgate, Kent
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Unfortunately, Manston requires massive investment. From new fuel tanks to drainage interceptors there is a long list of cash-consuming projects that can't be funded from revenues because there aren't any. If Infratil aren't going to underwrite the improvements that are needed I can't see that the airport will do any more than to limp along losing money hand-over-fist, as it has done for the last ten years.
Join Date: Feb 2008
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707
On another subject entirely, I understand the ex RAAF 707 was owned by Tom Vaughan of Turbine Motor Works and was awaiting a hush kit to be fitted. TMW now appear to be no more so does that mean that Infratil are now the owners of the 707. Does anybody have any more info regarding this?
Many thanks in advance.
Many thanks in advance.
Join Date: Dec 2000
Location: Isle of Thanet
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I wonder if Manston will see anything from this.
Royal Jordanian ties up with MK Airlines
Edward Attwood , May 19th, 2009
Royal Jordanian has signed a deal with a British air cargo firm to jointly develop airfreight services throughout Jordan and the Levant region.
The Jordanian flag-carrier hopes that the agreement with MK Airlines will allow both companies to improve fleet utilisation by complementing each other’s route networks, handling and mutual experience.
“The two companies will be working on feeding the capacity of RJ's Airbus A310s and MK Airlines' Boeing 747s and B767s [??], optimising costs through joint utilisation of each company's facilities, in particular for cargo handling,” said Samer Majali, president and CEO of Royal Jordanian. The chairman of MK Airlines, Abdullah Alanizi, indicated that cooperation would be extended to allow Royal Jordanian to benefit from, amongst other issues, his firm’s expertise in the uplift of perishables from major markets in Africa. He added that the two carriers would consider special prorate and block space agreements in various sectors, and that regular meetings would be held between executives to review performance.
Royal Jordanian ties up with MK Airlines
Edward Attwood , May 19th, 2009
Royal Jordanian has signed a deal with a British air cargo firm to jointly develop airfreight services throughout Jordan and the Levant region.
The Jordanian flag-carrier hopes that the agreement with MK Airlines will allow both companies to improve fleet utilisation by complementing each other’s route networks, handling and mutual experience.
“The two companies will be working on feeding the capacity of RJ's Airbus A310s and MK Airlines' Boeing 747s and B767s [??], optimising costs through joint utilisation of each company's facilities, in particular for cargo handling,” said Samer Majali, president and CEO of Royal Jordanian. The chairman of MK Airlines, Abdullah Alanizi, indicated that cooperation would be extended to allow Royal Jordanian to benefit from, amongst other issues, his firm’s expertise in the uplift of perishables from major markets in Africa. He added that the two carriers would consider special prorate and block space agreements in various sectors, and that regular meetings would be held between executives to review performance.
Join Date: Dec 2000
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Annual report just out. Remember, these are NZ dollars.
INFRATIL AIRPORTS EUROPE recorded an EBITDAF loss of $19 million against a profit of $1 million in the prior year. European air transport (passenger and freight) has been badly impacted by the recession. IAE’s airports handled 35% less freight and 5% fewer passengers than the previous year and this has required aggressive cost management and substantial staff reductions. Infratil has also renegotiated its agreement with Lubeck City to enable it to sell its stake in that Airport to the City for approximately $64 million in October 2009. In the meantime, debate rages about London’s airport capacity, with Kent
International Airport being identified as a future option given its location and the
development of high-speed rail links from Kent to London.
INFRATIL AIRPORTS EUROPE recorded an EBITDAF loss of $19 million against a profit of $1 million in the prior year. European air transport (passenger and freight) has been badly impacted by the recession. IAE’s airports handled 35% less freight and 5% fewer passengers than the previous year and this has required aggressive cost management and substantial staff reductions. Infratil has also renegotiated its agreement with Lubeck City to enable it to sell its stake in that Airport to the City for approximately $64 million in October 2009. In the meantime, debate rages about London’s airport capacity, with Kent
International Airport being identified as a future option given its location and the
development of high-speed rail links from Kent to London.
Last edited by Jes; 21st May 2009 at 12:20.
Join Date: Oct 2006
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Manston to be sold (but no buyers!)
http://www.stuff.co.nz/business/industries/2421519/Asset-sales-likely-as-Infratil-posts-loss
“He did not rule out selling stakes in other two European airports Kent and Glasgow Prestwick if buyers could be found. "In the meantime you do what you can control and that's the operating cost structures of those businesses."
“He did not rule out selling stakes in other two European airports Kent and Glasgow Prestwick if buyers could be found. "In the meantime you do what you can control and that's the operating cost structures of those businesses."
Join Date: Jul 2006
Location: Thanet
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With operating losses of 4 million quid per year on Manston's 10 year anniversary, and no prospects for improvement, one wonders if Infratil will simply hand it over free of charge to any institution willing to take it on.
Join Date: Sep 2006
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It wouldn't make a great Retail Park as there is no demand for retail sheds these days. I also seem to recall there is a new retail park almost at the end of the runway!
In fact its best prospects at the moment are possibly as an airport, after property development has ground to a halt so redevelopment wont happen!
Whilst losses cannot continue indefonitely its possible Manston may befenit from the downturn, as if Infratil are in for the long game they will continue running it as a small operation ensuring that those who use it have a good experience and recommend it to their friends therefore adding to its business. The issue is always being abole to build up the bisiness sufficiently.
In fact its best prospects at the moment are possibly as an airport, after property development has ground to a halt so redevelopment wont happen!
Whilst losses cannot continue indefonitely its possible Manston may befenit from the downturn, as if Infratil are in for the long game they will continue running it as a small operation ensuring that those who use it have a good experience and recommend it to their friends therefore adding to its business. The issue is always being abole to build up the bisiness sufficiently.
Join Date: Aug 2007
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The annual losses are not sustainable in any buisness, they have a small amount of core buisness now, and its with this small core, that they have this annual loss.
The airport does need investment, not like you can go to supermarket and buy an ILS system off the shelf, this things dont come cheap, and getting a return on the investment with a small core operation is always going to be tricky, especially in this enviroment. It really all boils down to how long Infatrail can sustain this kind of loss.
Obviously not getting the BAWC work has not helped the airport's cause, its a tough world out there guys.......
The airport does need investment, not like you can go to supermarket and buy an ILS system off the shelf, this things dont come cheap, and getting a return on the investment with a small core operation is always going to be tricky, especially in this enviroment. It really all boils down to how long Infatrail can sustain this kind of loss.
Obviously not getting the BAWC work has not helped the airport's cause, its a tough world out there guys.......
Join Date: Dec 2000
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Infratil April report
Glasgow Prestwick handled 160,419 passengers in April down 19% on April 2008 following on from the January-March quarter which was 12% down on the same period in 2008. On a rolling twelve months basis Glasgow Prestwick hosted 2,274,442 passengers down 6% on the previous 12 month total. Glasgow Prestwick handled 1,216 tonnes of freight during April, 58% below April 2008.
Kent International Airport freight volumes in April were 2,006 tonnes, 34% less than the prior year.
Lübeck Airport had an excellent start to the financial year with passengers 55% up on April 2008 due mainly to a new daily Palma service which has drawn travellers from the main Hamburg core catchment. Loads on other routes were also up on the prior year perhaps suggesting a regional trend towards low cost services.
Glasgow Prestwick handled 160,419 passengers in April down 19% on April 2008 following on from the January-March quarter which was 12% down on the same period in 2008. On a rolling twelve months basis Glasgow Prestwick hosted 2,274,442 passengers down 6% on the previous 12 month total. Glasgow Prestwick handled 1,216 tonnes of freight during April, 58% below April 2008.
Kent International Airport freight volumes in April were 2,006 tonnes, 34% less than the prior year.
Lübeck Airport had an excellent start to the financial year with passengers 55% up on April 2008 due mainly to a new daily Palma service which has drawn travellers from the main Hamburg core catchment. Loads on other routes were also up on the prior year perhaps suggesting a regional trend towards low cost services.
