Teesside-2
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I just keep googling and odd bits come up now and then. There some impressive stuff coming up.
All that has been publicly mentioned is expectation of based airline by 2026. Other than that in the public domain diddily squit. But that article in International Airport Review by the MD hints at numerous exciting announcements in the coming months.
I just keep googling and odd bits come up now and then. There some impressive stuff coming up.
I just keep googling and odd bits come up now and then. There some impressive stuff coming up.
From the FT:
Flock owns Cottbus Airport in Germany
See also:
https://www.thenorthernecho.co.uk/ne...-ambulance-hq/
British investor Michael Flacks has said he is in talks to acquire a 49 per cent stake in North East England’s Teesside International Airport as part of plans for significant investment in the region.
Flacks said the deal, which he hopes to close by the end of August, would make sense for the local taxpayer. “They’ve been losing money for years,” he noted, adding he wanted to make the airport “profitable”. “The way to make it profitable is do differently to what they’re doing,” he said. “It’s not that they’re not doing a good job, but running a passenger airport is a hopeless exercise.” In a video posted on Facebook on Friday, Houchen said: “I don’t think we should ever be selling our airport . . . We’ve been approached periodically.” Under the deal envisaged by Flacks, he would have operational control of the airport while the local councils, which own the remaining 51 per cent, would continue as a “silent partner”. If successful, he said he would further invest in the airport to build out new facilities such as hangars. He said he would only aim to slightly increase annual passenger traffic. “My offer isn’t just about buying it, it’s about developing it for further use,” he said.
In a statement, Houchen said in recent months there had been interest “from a number of firms wanting to invest in our airport and take a share in the ownership”, although he did not name Flacks. He called the interest a “massive vote of confidence”, adding that in recent weeks officials “have done the diligent thing in assessing these proposals”. Nevertheless the airport would be “staying as it is”, he added. “I have always been clear that the public should own Teesside Airport,” he said. “That is the mandate I have and that is how things should remain.”
See also:
https://www.thenorthernecho.co.uk/ne...-ambulance-hq/
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Houchen has stated that the airport is not for sale, on many occasions so why is he engaging in any sorts of negotiation, and he hss not reacted to the FT article, why would he change direction, lack of progress
Problem is..because of the dubious secrecy surrounding and contrived by benji…the actual costs,debts,valuations and open honesty..around the airport..non of us actually know where the airport stands!
Sadly, expected by many of us..exciting times as always ahead!
Sadly, expected by many of us..exciting times as always ahead!
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https://www.manchestereveningnews.co...port-1-7080001
Cottbus airport that Flack owns in German appears to now be a solar farm.
https://www.manchestereveningnews.co...port-1-7080001
https://www.manchestereveningnews.co...port-1-7080001
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From what I have read in the FT article and the thread on twitter
The Airport is still being valued at £40m
So the 49% stake being asked judging above would be worth around £20m.
The six Councils 11% stake would be sold in this offer.
So if I done the sums correct would net the Councils £4.4m to be split between six.
Which works out at about £733k per Council.
When you think when Councils sold 75% stake over 20 years ago for £500k when split between six worked out at about £83k each.
If this sale does go through then Councils will net nine times more than they did 22 years ago.
The Airport is still being valued at £40m
So the 49% stake being asked judging above would be worth around £20m.
The six Councils 11% stake would be sold in this offer.
So if I done the sums correct would net the Councils £4.4m to be split between six.
Which works out at about £733k per Council.
When you think when Councils sold 75% stake over 20 years ago for £500k when split between six worked out at about £83k each.
If this sale does go through then Councils will net nine times more than they did 22 years ago.
From what I have read in the FT article and the thread on twitter
The Airport is still being valued at £40m
So the 49% stake being asked judging above would be worth around £20m.
The six Councils 11% stake would be sold in this offer.
So if I done the sums correct would net the Councils £4.4m to be split between six.
Which works out at about £733k per Council.
When you think when Councils sold 75% stake over 20 years ago for £500k when split between six worked out at about £83k each.
If this sale does go through then Councils will net nine times more than they did 22 years ago.
The Airport is still being valued at £40m
So the 49% stake being asked judging above would be worth around £20m.
The six Councils 11% stake would be sold in this offer.
So if I done the sums correct would net the Councils £4.4m to be split between six.
Which works out at about £733k per Council.
When you think when Councils sold 75% stake over 20 years ago for £500k when split between six worked out at about £83k each.
If this sale does go through then Councils will net nine times more than they did 22 years ago.
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The Councils still own 11%
89% is TVCA of which 25% of the 89% is the Foundation.
So it is something like if done sums right.
66.75% TVCA
22.25% Foundation
11% Councils
89% is TVCA of which 25% of the 89% is the Foundation.
So it is something like if done sums right.
66.75% TVCA
22.25% Foundation
11% Councils