Luton-9
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Interesting, AENA bought out the shared concession a few years ago for £400 million but with only 13 years left of the existing concession how much do they expect to get?
Interestingly they have put in an objection to the councils planning application for the planned business park next door as the access road will cross the airport and will cause traffic problems.
Also wonder what the rest of the text reads that is blanked out.
Interestingly they have put in an objection to the councils planning application for the planned business park next door as the access road will cross the airport and will cause traffic problems.
Also wonder what the rest of the text reads that is blanked out.
Paxing All Over The World
If the Council plan to put a biz park next to the airport - then major road work would be needed. For once, I am on AENA's side!
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The rest of the article details the share holding in the concession and their debt refinancing in 2017. 49% share holder Ardian may have already commenced negotiations for a sale.
Interestingly, GIP wishes to sell or reduce their 42% shareholding in Gatwick.
Interestingly, GIP wishes to sell or reduce their 42% shareholding in Gatwick.
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Just a little construction update.
For those that can remember in the original planning application an onward travel centre building was located where the funfair type kiosks were eventually located. These have now been moved together with the removal of the large smoking den that was by the side of them. Does this mean that an onward travel centre will be now be moving from inside the terminal infill to its original location?
The airport has provided a photo of inside the terminal infill. I have never been a fan of the industrial look ceilings where everything that should be hidden is displayed. If pier A and the temporary arrivals area is anything to go by the final finish might look similar to this although the publicity artist’s impressions show strips of wood crossing the ceiling to partly hide the mess.
For those that can remember in the original planning application an onward travel centre building was located where the funfair type kiosks were eventually located. These have now been moved together with the removal of the large smoking den that was by the side of them. Does this mean that an onward travel centre will be now be moving from inside the terminal infill to its original location?
The airport has provided a photo of inside the terminal infill. I have never been a fan of the industrial look ceilings where everything that should be hidden is displayed. If pier A and the temporary arrivals area is anything to go by the final finish might look similar to this although the publicity artist’s impressions show strips of wood crossing the ceiling to partly hide the mess.
Last edited by LTNman; 5th Mar 2018 at 21:51.
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As far as I am aware Anea are funding the 18 million passengers upgrade out of a concession that ends in 13 years. These costs have increased from the initial quoted £100 million to £110 million, then it became £120 million and now it is £150 million.
The project is already running more than a year late so I am guessing the extra cost is down to mainly wages and the extra cost of construction issues with savings made on the finish and cutting back of materials. Tarmac is a great example, the pavements from the terminal frontage to the drop off zone would look so much better if tarmac was substituted with a different quality finish while the mid term car park would be so much better if they had used tarmac rather than using rolled loose stones for the parking bays. Last year the extension to the mid term car park was completed and just a year later the new parking bays are full of puddles as the ground breaks up.
It must pain Aena to see large chunks of their investment being already dug up or about to be dug up in preparation for the second multi-storey and the Dart which is being funded by LLAL via loans from the council.
The project is already running more than a year late so I am guessing the extra cost is down to mainly wages and the extra cost of construction issues with savings made on the finish and cutting back of materials. Tarmac is a great example, the pavements from the terminal frontage to the drop off zone would look so much better if tarmac was substituted with a different quality finish while the mid term car park would be so much better if they had used tarmac rather than using rolled loose stones for the parking bays. Last year the extension to the mid term car park was completed and just a year later the new parking bays are full of puddles as the ground breaks up.
It must pain Aena to see large chunks of their investment being already dug up or about to be dug up in preparation for the second multi-storey and the Dart which is being funded by LLAL via loans from the council.
Last edited by LTNman; 6th Mar 2018 at 04:27.
Paxing All Over The World
As far as I have noticed, since entering the work force (in 1978) 'Forward Planning' has not been strong in British life. Public or private.
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The piling for the pedestrian tunnel that is running along parallel to the ring road for Multistory 2 is now around 100m long and they haven't finished yet.
This is the first floor of pier B that according to the airport is about to be fitted out. I have no idea what they mean by fitting out but my eye is drawn to that busy ceiling which is similar to pier A. The fact that everything is spayed black makes me think this is it. I am thinking the pier won't be winning any style awards.
LLA
This is the first floor of pier B that according to the airport is about to be fitted out. I have no idea what they mean by fitting out but my eye is drawn to that busy ceiling which is similar to pier A. The fact that everything is spayed black makes me think this is it. I am thinking the pier won't be winning any style awards.
LLA
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Prior to the days of the Concession, Luton was hampered by LBC being unable to borrow the large sums involved, but any development was well planned and executed, well apart from building the tinminal in a cul-de-sac!
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Ryanair Winter Timetable...
Timetable looking pretty similar to previous years and no big shocks or surprises...
Las Palmas, Girona, Faro and Nimes dropped for the winter.
74 flights a week, or just under 28,000 available seats a week.
Dublin - 3x Daily
Copenhagen - 1x Daily
Kaunas - 1x Daily
Kerry - 6x Weekly
Knock - 6x Weekly
Malta - 4x Weekly
Vilnius - 4x Weekly
Bydgoszcz - 3x Weekly
Rzeszow - 3x Weekly
Murcia - 3x Weekly
Beziers - 2x Weekly
Marrakesh - 2x Weekly
Fuerteventura - 2x Weekly
Lanzarote - 2x Weekly
Tenerife (South) - 2x Weekly
Las Palmas, Girona, Faro and Nimes dropped for the winter.
74 flights a week, or just under 28,000 available seats a week.
Dublin - 3x Daily
Copenhagen - 1x Daily
Kaunas - 1x Daily
Kerry - 6x Weekly
Knock - 6x Weekly
Malta - 4x Weekly
Vilnius - 4x Weekly
Bydgoszcz - 3x Weekly
Rzeszow - 3x Weekly
Murcia - 3x Weekly
Beziers - 2x Weekly
Marrakesh - 2x Weekly
Fuerteventura - 2x Weekly
Lanzarote - 2x Weekly
Tenerife (South) - 2x Weekly
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More information has come out regarding the sale of the concession.
POSTED BY: THE CORNER 7TH MARCH 2018
Aena may be studying the possibility of increasing its stake in the UK’s Luton airport (it has a preferential option) after its current partner, the fund Ardian, has shown interest in getting rid of its stake. Ardian and Aena bought 100% of the airport from Abertis in 2013 for 508 million euros. Aena currently owns 51% of Luton airport and it represents about 1% of the group’s EV. Luton is the UK’s fifth biggest airport.
Renta4’s analysts put a value of 310 million euros on the 50% stake, while Bankinter believes that it would require a bit more of an investment, around 325 million euros for 49%. That said, the recent extension of the concession until 2031 and agreements with some airlines like Easy Jet could justify a slightly higher multiple. Experts at Renta4 explain:
“It’s an asset which is working very well and its outlook, after the workforce adjustment, is very positive. So we think it would be a good thing to buy 100% of the asset, as long as the prices are not too high.”
In fact, in 2017, Luton airport generated revenues of 205 million euros and EBITDA of 58.7 million, which AENA would fully consolidate. This would mean additional revenues of 100 million euros (2.5% of the group total) and additional EBITDA of 29 million euros (1.2% of the total).
And finally, with a Financial Debt/EBITDA ratio of 2.8x and a strong cash generation capacity, Bankinter assumes that AENA can make this acquisition “which is accretive for group results.”
Aena may be studying the possibility of increasing its stake in the UK’s Luton airport (it has a preferential option) after its current partner, the fund Ardian, has shown interest in getting rid of its stake. Ardian and Aena bought 100% of the airport from Abertis in 2013 for 508 million euros. Aena currently owns 51% of Luton airport and it represents about 1% of the group’s EV. Luton is the UK’s fifth biggest airport.
Renta4’s analysts put a value of 310 million euros on the 50% stake, while Bankinter believes that it would require a bit more of an investment, around 325 million euros for 49%. That said, the recent extension of the concession until 2031 and agreements with some airlines like Easy Jet could justify a slightly higher multiple. Experts at Renta4 explain:
“It’s an asset which is working very well and its outlook, after the workforce adjustment, is very positive. So we think it would be a good thing to buy 100% of the asset, as long as the prices are not too high.”
In fact, in 2017, Luton airport generated revenues of 205 million euros and EBITDA of 58.7 million, which AENA would fully consolidate. This would mean additional revenues of 100 million euros (2.5% of the group total) and additional EBITDA of 29 million euros (1.2% of the total).
And finally, with a Financial Debt/EBITDA ratio of 2.8x and a strong cash generation capacity, Bankinter assumes that AENA can make this acquisition “which is accretive for group results.”
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One has to wonder, just where the huge income from the airport is being spent by LBC?
“It’s an asset which is working very well and its outlook, after the workforce adjustment,....
Has or will happen?
“It’s an asset which is working very well and its outlook, after the workforce adjustment,....
Has or will happen?
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New retail openings as 1m passengers use LLA in February - London Luton Airport
Noticed the cost is now £160 million, first time I've seen that figure.
Also the terminal extension opening is now "Later this year"
Overrun again??
Noticed the cost is now £160 million, first time I've seen that figure.
Also the terminal extension opening is now "Later this year"
Overrun again??
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No Diversions day or night and no biz jets overnight meaning that the airport becomes an 18 hour a day biz jet airport. That just leaves Stansted which might have its own overnight restrictions and Southend.
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Passenger figures for February were 1,042,325 DOWN 0.8 per cent (about 7,500) on February 2017. The rolling 12 month figure was 15,826,370 up 6.3 per cent. Regarding the noise problems looks like somebody hasn't been playing ball leaving the airport no alternative to keep within the law.