LUTON - 7
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Commenting on the announcement of the sale of London Luton Airport to AENA and AXA, Hugh Aitken, UK Commercial Manager at easyJet said:
"As London Luton Airport's largest airline, easyJet bases a fleet of 15 aircraft on site serving 38 destinations across Europe, Northern Africa the Middle East and Iceland carrying almost 5m passengers each year on our easy and affordable flights.
We look forward to working with AENA and AXA to deliver enhancements to London Luton Airport which will result in sustainable growth, long term development and an improved customer experience which will help the airport to reach its full potential.
"As London Luton Airport's largest airline, easyJet bases a fleet of 15 aircraft on site serving 38 destinations across Europe, Northern Africa the Middle East and Iceland carrying almost 5m passengers each year on our easy and affordable flights.
We look forward to working with AENA and AXA to deliver enhancements to London Luton Airport which will result in sustainable growth, long term development and an improved customer experience which will help the airport to reach its full potential.
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Intersting we know nothing about whether the right of the operating the airport with LBC has been extended. They actually havn't bought the airport so the price compared with other London sales seems high.
Last edited by pabely; 1st Aug 2013 at 19:24.
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Go back a few years, maybe 10?
AENA, so how about a Vueling base? Or even Norwegian! Both do good business with the new concessionaire.
Going to be a huge Gatwick, Stansted and Luton battle for business!
Nice to be talking about the future rather than buses!
AENA, so how about a Vueling base? Or even Norwegian! Both do good business with the new concessionaire.
Going to be a huge Gatwick, Stansted and Luton battle for business!
Nice to be talking about the future rather than buses!
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"The consortium has now agreed to buy the company that holds the rights to operate the airport on the council’s behalf until 2031"
Luton Airport set to expand following rights sale | Travel News
£433 million divided into 18 year = 24 million per year plus passenger fees to the council, add to that investment into the airport. I wonder what their expected return will be?
Luton Airport set to expand following rights sale | Travel News
£433 million divided into 18 year = 24 million per year plus passenger fees to the council, add to that investment into the airport. I wonder what their expected return will be?
Last edited by LTNman; 5th Aug 2013 at 20:25.
From the article above:
Sounds like AENA will be on the hook for an investment along the lines of the one recently discussed, which preceeded the extension of the franchise to 2031.
For AENA and AXA to maximise their returns, they will be wanting to make that investment PDQ. Of course, if the franchise isn't extended from 2031, everything will decline from about 2020 as the payback period won't be long enough to make a return on it.
Luton council said, ‘We will be working with Aena and AXA to ensure a smooth transition in the transferring of responsibility for the operation of London Luton Airport which will need to deliver an investment programme for the asset under the terms of the existing concession agreement.’
For AENA and AXA to maximise their returns, they will be wanting to make that investment PDQ. Of course, if the franchise isn't extended from 2031, everything will decline from about 2020 as the payback period won't be long enough to make a return on it.
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I don't think any of that £433 million will be going to the council. They just get a per passenger fee and an airport with better infrastructure when the concession gets renewed in 2031.
If the airport is worth £433million for a 18 year lease I wonder what the airport is worth if it was sold?
If the airport is worth £433million for a 18 year lease I wonder what the airport is worth if it was sold?
Last edited by LTNman; 6th Aug 2013 at 18:46.
I wonder what the airport is worth if it was sold?
I've never valued a company like an airport, but normally you would do a DCF (Discounted Cash Flow) analysis of free cash flow extending forwards for the foreseeable future. If 18 years is beyond the 'foreseeable future', presumably the value is the same, except that there is underlying asset value to add in.
Any insights from others would be interesting.
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Blast from LTN past
Some may appreciate this recently scanned old beauty...
Dan-air_CometIV_LTN_1975 | Flickr - Photo Sharing!
Dan-air_CometIV_LTN_1975 | Flickr - Photo Sharing!
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Thomson Summer 2014
Most of the bases seem to be complete in their schedules except Luton.
I have always thought of Luton myself as a bit of a "lazy 3 aircraft base" myself as some aircraft only do 1 flight in a day or retire for the night quite early/leave quite late in the morning.
The new route to Skiathos from Luton means that according to the current schedule, there will be 4 morning departures on a Friday requiring 4 based aircraft. I would assume one of those 4 flights has to change/be removed unless there is some expansion coming along!?
I have always thought of Luton myself as a bit of a "lazy 3 aircraft base" myself as some aircraft only do 1 flight in a day or retire for the night quite early/leave quite late in the morning.
The new route to Skiathos from Luton means that according to the current schedule, there will be 4 morning departures on a Friday requiring 4 based aircraft. I would assume one of those 4 flights has to change/be removed unless there is some expansion coming along!?
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Thomson Schedule
Thomson Summer 2014
Most of the bases seem to be complete in their schedules except Luton.
I have always thought of Luton myself as a bit of a "lazy 3 aircraft base" myself as some aircraft only do 1 flight in a day or retire for the night quite early/leave quite late in the morning.
The new route to Skiathos from Luton means that according to the current schedule, there will be 4 morning departures on a Friday requiring 4 based aircraft. I would assume one of those 4 flights has to change/be removed unless there is some expansion coming along!?
Most of the bases seem to be complete in their schedules except Luton.
I have always thought of Luton myself as a bit of a "lazy 3 aircraft base" myself as some aircraft only do 1 flight in a day or retire for the night quite early/leave quite late in the morning.
The new route to Skiathos from Luton means that according to the current schedule, there will be 4 morning departures on a Friday requiring 4 based aircraft. I would assume one of those 4 flights has to change/be removed unless there is some expansion coming along!?
Enfidha TOM0750 06.15
Lanzarote TOM5724 07.00
Malaga ZB0000 07.10
Faro TOM5712 08.20
This is just a guess, and I haven't flown with Thomson in quite sometime... But with Luton being quite a big maintenance base for the airline, could it be the fourth aircraft operating on a Sunday morning has been in the hangar the night before undergoing checks, and just utilising it, before it goes off to another base?
I remember when flying back from Mahon about 7-8 years ago, and even though a Thomson flight arrived in from Luton that same aircraft was operating back to Glasgow... The only reason we knew this was that our flight back home was delayed and everyone was questioning why, when the Luton flight had just arrived on time and we was advised the flight for us back to Luton was being operated by the inbound aircraft from Glasgow, but was delayed due to bad weather.
So just maybe the Skiathos flight or one of the other three flights operating that morning is being swapped, to fly back to Luton for maintenance on that aircraft for a few days. As the rest of the Friday schedule can easily be operated with just three aircraft.
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Malaga ZB0000 07.10
Luton does do alot of work in H63, but usually after a busy day, are there 4 returning flights PM? Wasn't their once a BY/TUI cargo site which had all shedules?