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Of course the WG will have patience. The reality is that CWL got hit by a triple whammy of events but it still has it's core sun routes operation and KLM still going. It'll take time to recover but I'm sure it will.
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It depends on what the airports needs are i suppose. In the end I'm sure like many airport owners private and public the WG will have to in some way invest in the airport to keep it going or the airport will divert money intended for elsewhere to keep the business going, which also includes St Athan now and Anglesey handling.
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This is utter , utter madness. The new finance director is on an advertised salary of between £85- £90,000 per annum plus an £8k car allowance.
I really despair how this is justified.
I really despair how this is justified.
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Would be interesting to know what the finance director at Bristol is on!
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I believe that the average pay for a finance director is £72000, a lot of companies will have thing's like commision and bonuses and share schemes and profit sharing schemes. So it's probable all the latter have been averaged out and added on to his salary.
Would be interesting to know what the finance director at Bristol is on!
Would be interesting to know what the finance director at Bristol is on!
I would agree, and an FD would generally be qualified with ACA or similar, so degree level, and it certainly isn't a job for an accounts clerk!
The problem is that some people have no idea about salaries in management position, and frankly if Cardiff Airport has picked up an FD so cheaply, I just hope they're up to the job.
The problem is that some people have no idea about salaries in management position, and frankly if Cardiff Airport has picked up an FD so cheaply, I just hope they're up to the job.
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Two departures today as opposed to 30 exactly a year ago. The airport is truly up against the wall and will be for a long time to come. This appointment would have been acceptable last year ,
I feel if the public purse was not propping up the business, then this position is not tenable for the foreseeable future , there is not enough work for a Financial Director per se.
I feel if the public purse was not propping up the business, then this position is not tenable for the foreseeable future , there is not enough work for a Financial Director per se.
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Two departures today as opposed to 30 exactly a year ago. The airport is truly up against the wall and will be for a long time to come. This appointment would have been acceptable last year ,
I feel if the public purse was not propping up the business, then this position is not tenable for the foreseeable future , there is not enough work for a Financial Director per se.
I feel if the public purse was not propping up the business, then this position is not tenable for the foreseeable future , there is not enough work for a Financial Director per se.
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I agree that it is most unusual. Given the airport is owned by the Welsh Government, I would have expected this role and associated duties to have been soaked in to centralised teams. It's very unusual I'd say for them to have a direct appointment, unless they're gearing it up for private sale of course.
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Two departures today as opposed to 30 exactly a year ago. The airport is truly up against the wall and will be for a long time to come. This appointment would have been acceptable last year ,
I feel if the public purse was not propping up the business, then this position is not tenable for the foreseeable future , there is not enough work for a Financial Director per se.
I feel if the public purse was not propping up the business, then this position is not tenable for the foreseeable future , there is not enough work for a Financial Director per se.
You also need to realise that the company isn't just Cardiff Airport its also St Athan airfield and it's business park as well.
As for departures Exeter has 3 today, Norwich 2, Bournemouth 3, Southampton 8, Newquay 2 or 5 depends on Skybus, LBA 9, NCL 14 and DSA 10 according to FR24 most a lot lower than last year so CWL is not alone and yes will no doubt take a longer to recover than most of those airports.
Are you really blaming the airport management for Flybe and Thomas Cook collapse and a global pandemic?
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Well unfortunately if Cardiff wants routes like Edinburgh and Dublin and Jersey in general it doesn't have much choice but to look to the weak airlines because the strong one Easyjet won't touch it because of their ops at Bristol.
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PDX - u are a tad delusional. How can you say this is a commercial arm when it is being propped up left, right and centre by the WG ? The current management structure and costs is a joke. Please tell me how this ‘commercial’ organisation is reducing costs (permanently) and funding itself in the wake of a two thirds plus slump in business ? If I were a ‘commercial’ owner I would be seeking buyers to build Barrett or Wimpey homes (in the absence of any viable or public plans to at least make the business cash flow neutral) to realise an asset. the airport seems devoid of any strategy except the begging bowl to the WG !
i would be interested to hear your plans and thoughts to stop the airport burning cash in the next 2-4 years and a comparable ‘commercial’ business that would/could sustain such losses with little or no liquidity ?
maybe you know different to us how ‘commercial’ businesses are run.....,
isnt this supposed to be a business, not a plane spotters project ?
Controversial ? Just stating the facts...
i would be interested to hear your plans and thoughts to stop the airport burning cash in the next 2-4 years and a comparable ‘commercial’ business that would/could sustain such losses with little or no liquidity ?
maybe you know different to us how ‘commercial’ businesses are run.....,
isnt this supposed to be a business, not a plane spotters project ?
Controversial ? Just stating the facts...
Last edited by TOM100; 12th Aug 2020 at 16:14.
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And we know why. Are you really blaming the airport management for Flybe and Thomas Cook collapse and a global pandemic?
You also need to realise that the company isn't just Cardiff Airport its also St Athan airfield and it's business park as well.
As for departures Exeter has 3 today, Norwich 2, Bournemouth 3, Southampton 8, Newquay 2 or 5 depends on Skybus, LBA 9, NCL 14 and DSA 10 according to FR24 most a lot lower than last year so CWL is not alone and yes will no doubt take a longer to recover than most of those airports.
You also need to realise that the company isn't just Cardiff Airport its also St Athan airfield and it's business park as well.
As for departures Exeter has 3 today, Norwich 2, Bournemouth 3, Southampton 8, Newquay 2 or 5 depends on Skybus, LBA 9, NCL 14 and DSA 10 according to FR24 most a lot lower than last year so CWL is not alone and yes will no doubt take a longer to recover than most of those airports.
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I cannot agree with this. If I was signing a ten year deal that involved me supporting the airline (Flybe) for the beginning of the contract and make my profits at the end of the contract I would want to know what the strategy was for the airline for the next ten years including fleet planning and the resilience of the balance sheet to make sure that I could collect from them at the end of the contract. I don’t know whether they asked the question but they certainly didn’t get the answer.
I would expect the BRS FD to earn a lot more - a highly profitable business, run on true commercial reality with a substantially higher turnover. A £20m t/o business is a small business !
when I see a business plan to drastically take out cost with a coherent plan for the future I will get behind them -,whilst just relying on the Welsh taxpayer to subsidise them I will fight tooth and nail via my AM/FM/MP to hold them to account and their feet to the fire.
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Just out of interest, I include an extract from a letter from the Government to the Senedd Public Accounts Committee.
‘In terms of the recently agreed extended commercial loan facility, I would like to reassure the Committee that a range of downside scenario models were included within the financial due diligence which informed our decision to award the loan – these scenarios included a “catastrophic event” resulting in significantly reduced traffic for an extended period, and a significant operator stopping its operations at CIAL.’
It shows that the Government were happy to lend on commercial terms even in the circumstances that we know find ourselves in.
‘In terms of the recently agreed extended commercial loan facility, I would like to reassure the Committee that a range of downside scenario models were included within the financial due diligence which informed our decision to award the loan – these scenarios included a “catastrophic event” resulting in significantly reduced traffic for an extended period, and a significant operator stopping its operations at CIAL.’
It shows that the Government were happy to lend on commercial terms even in the circumstances that we know find ourselves in.
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Just out of interest, I include an extract from a letter from the Government to the Senedd Public Accounts Committee.
‘In terms of the recently agreed extended commercial loan facility, I would like to reassure the Committee that a range of downside scenario models were included within the financial due diligence which informed our decision to award the loan – these scenarios included a “catastrophic event” resulting in significantly reduced traffic for an extended period, and a significant operator stopping its operations at CIAL.’
It shows that the Government were happy to lend on commercial terms even in the circumstances that we know find ourselves in.
‘In terms of the recently agreed extended commercial loan facility, I would like to reassure the Committee that a range of downside scenario models were included within the financial due diligence which informed our decision to award the loan – these scenarios included a “catastrophic event” resulting in significantly reduced traffic for an extended period, and a significant operator stopping its operations at CIAL.’
It shows that the Government were happy to lend on commercial terms even in the circumstances that we know find ourselves in.