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Old 4th Dec 2018, 12:42
  #1061 (permalink)  
 
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Originally Posted by EGPO View Post
Sorry but why are Peel being allowed to buy back this share is it not them who utterly ruined the airport.
It has almost as little traffic for pax as HUY.
Another odity that being a Base for Eastern offers no domestic routes or even Copenhagen or Stavanger . Dublin etc.
The councils are buying the stake from Peel, not the other way around.
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Old 4th Dec 2018, 13:03
  #1062 (permalink)  
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Originally Posted by EGPO View Post
Sorry but why are Peel being allowed to buy back this share is it not them who utterly ruined the airport.
Your mix up says it all really, but for clarity, no, it is not them.

Let's not get excited until the councillors ratify his plan, because frankly I suspect they will not on principle regardless of whether or not they agree with it.

Impressed he got the full land mind!! I have to tip my hat.
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Old 4th Dec 2018, 13:07
  #1063 (permalink)  
 
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And he's pointed out that the land is worth more than he's agreed to pay....
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Old 4th Dec 2018, 13:34
  #1064 (permalink)  
 
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Sorry I misunderstood
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Old 4th Dec 2018, 13:42
  #1065 (permalink)  
 
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Buy an asset for half a million, then a couple of years later sell it back in worse condition for £40m. I wish I could find opportunities like that. The spotters might think it's a good deal, but as a tax-payer I would have to disagree.
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Old 4th Dec 2018, 13:56
  #1066 (permalink)  
 
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Originally Posted by Hipennine View Post
Buy an asset for half a million, then a couple of years later sell it back in worse condition for £40m. I wish I could find opportunities like that. The spotters might think it's a good deal, but as a tax-payer I would have to disagree.
Why? It's not your money

Can't blame Peel for buying the place for half a mil, if you walk into EE and they're flogging iPhones for a fiver, you're gonna buy one!
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Old 4th Dec 2018, 13:56
  #1067 (permalink)  
 
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A bit more than a couple of years, and depends how much you'd have had to pay out in losses in the intervening period
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Old 4th Dec 2018, 14:26
  #1068 (permalink)  
 
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Originally Posted by No-More-Bullschit View Post
Why? It's not your money

Can't blame Peel for buying the place for half a mil, if you walk into EE and they're flogging iPhones for a fiver, you're gonna buy one!
Well where do you think the £40million is coming from if not the taxpayer? It is therefore my money and your money.

And no, I don't blame Peel, I would do the same, that's the point I was making. It does however raise serious questions about the people who negotiated and signed off the deal to sell it (and those now talking about buying it).
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Old 4th Dec 2018, 14:35
  #1069 (permalink)  
 
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The Mayor made it quite clear it would not affect the taxpayer
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Old 4th Dec 2018, 14:42
  #1070 (permalink)  
 
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Originally Posted by No-More-Bullschit View Post
The Mayor made it quite clear it would not affect the taxpayer
impossible
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Old 4th Dec 2018, 15:50
  #1071 (permalink)  
 
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The rollercoaster runs on a bit longer, out of all the mayors words this is a bit chilling! So it could be houses in five years.
Mr Houchen said that in the worst case scenario and his plan failed and the airport shut in five years, he believed the 819 acres plus the land with housing planned for it represented a sound investment.He said: "There is more residual value than we are spending on it."
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Old 4th Dec 2018, 16:02
  #1072 (permalink)  
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Now wouldn't that be ironic!
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Old 4th Dec 2018, 16:06
  #1073 (permalink)  
 
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Originally Posted by No-More-Bullschit View Post
The Mayor made it quite clear it would not affect the taxpayer
The mayor made it clear the money was coming from taxes raised central and not locally.
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Old 4th Dec 2018, 16:41
  #1074 (permalink)  
 
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Does the deal include the South side land earmarked for development?
I think £40m is a snip considering Peel were hoping for £25m for the housing development alone!
Don't get me started on the original deal between the council's and Peel. 😡
Please bear in mind the supposed losses at the airport include loan repayments back to Peel. These should in theory if the deal is done properly be no more!
Even at a lower end guess using the quoted £5m payment for the housing development, I would estimate a possible land value in the £50m range with a maximum going by the proposed £25m Peel hoped to make at £250m!
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Old 4th Dec 2018, 18:51
  #1075 (permalink)  
 
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Onion, think its the whole lot. We then just have to see who the Mayor gets as a partner to run the airfield.
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Old 4th Dec 2018, 20:53
  #1076 (permalink)  
 
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Well thats the easy part buying the airport back.
Hardest part is getting an airline to bring passengers back to DTV i just cant see any wanting to come.

TCX has pulled an aircraft from NCL is closing LBA as a base
TUI is closing LBA

I cant see Jet2 wanting to come along maybe the odd flight

Ryanair wouldnt last with out a payment for flying in
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Old 4th Dec 2018, 21:44
  #1077 (permalink)  
 
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tThe last post says it all..with Brexit et al..aviation UK is in a bit of a kerfuffle ..who other than the local tax payers are going to pick up the running costs of this stagnant airport ?

Would that 40 million plus not be better spent on railways,roads and social services? Just a thought..major airports north and south within 1 hour available..will that really hold back the Teesside economy if people use them.
Great deal though by the mayor.Retrieving the airport from the possible Abyss..?

Great people, land and heritage doesn’t nesessarily need an airport?

Apologies to Little Britain for my spelling of Kerffule !


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Old 5th Dec 2018, 06:29
  #1078 (permalink)  
 
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Your the only highwideandugly in the village!
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Old 5th Dec 2018, 08:31
  #1079 (permalink)  
 
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Would that 40 million plus not be better spent on railways,roads and social services?
To be fair to the Mayor (!), he is delivering on his manifesto commitment. Clearly taking the airport back into public ownership has a cost, and the money spent on the airport is money that can't be spent on other public services, but that's what the electorate voted for.

His argument is that the airport will generate economic activity that will generate tax revenue in the region that will cover that cost.
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Old 5th Dec 2018, 10:06
  #1080 (permalink)  
 
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I seem to remember that KLM were thinking about having a overflow freight operation at MME. Is that still in the offering?
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