Teesside-2
I think..which has been mentioned many times before Newcastle with circa 5 million passengers and some freight can service the debt.So can re finance..as they do.
Teesside with circa 150k passengers and no freight ..can’t? They rely upon borrowings from the local councils who are in a pretty dire financial situation also?
Basically aviation is generally in a bit of a mess world wide ?
Teesside with circa 150k passengers and no freight ..can’t? They rely upon borrowings from the local councils who are in a pretty dire financial situation also?
Basically aviation is generally in a bit of a mess world wide ?
ly upon borrowings from the local councils who are in a pretty dire financial situation also?
NCL is a
Public Private Partnership between seven local authorities in the North East region and AMP Capital who each have a 51% and 49% shareholding
MME is starting from a far lower base and has spent a lot of money - the question is has the money been spent on the right things, both within the wider Tees Valley area and within the airport itself.
The principle beneficiaries currently seem to be those going on their holidays, which is all very nice but is it the best use of public money? It will need a lot more of them to make the terminal pay. 'Global connectivity' is on a par with the Peel days.
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All the information is in the accounts if you read it.
The issue with servicing the debt is that they have only been servicing the interest.
They need to re finance 60m within a year and 120m within 2 years, before you get onto the rest.
The issue you have now is that you won't get as good a deal as they had previously as
1. Interest rates are going up world wide,
2. As has been rightly pointed out aviation isn't where it was meaning any investment is riskier
3. The long term future looks bleaker than it did 3 years ago meaning again investment is riskier.
If they get a refinance deal all it ll mean is that the cost will be higher. Causing more hardship.
This is all on an asset that is in a negative position of a quarter of a billion pounds! With direct loans to the councils of £83m.
Now MME on the other hand owes money too but it owes it to the Tees Valley Authority if they go under the public still keeps the asset. Where as NCL maybe owned by the councils but the debt is a commercial debt so if it can't be paid the public lose the asset.
The issue with servicing the debt is that they have only been servicing the interest.
They need to re finance 60m within a year and 120m within 2 years, before you get onto the rest.
The issue you have now is that you won't get as good a deal as they had previously as
1. Interest rates are going up world wide,
2. As has been rightly pointed out aviation isn't where it was meaning any investment is riskier
3. The long term future looks bleaker than it did 3 years ago meaning again investment is riskier.
If they get a refinance deal all it ll mean is that the cost will be higher. Causing more hardship.
This is all on an asset that is in a negative position of a quarter of a billion pounds! With direct loans to the councils of £83m.
Now MME on the other hand owes money too but it owes it to the Tees Valley Authority if they go under the public still keeps the asset. Where as NCL maybe owned by the councils but the debt is a commercial debt so if it can't be paid the public lose the asset.
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All the information is in the accounts if you read it.
The issue with servicing the debt is that they have only been servicing the interest.
They need to re finance 60m within a year and 120m within 2 years, before you get onto the rest.
The issue you have now is that you won't get as good a deal as they had previously as
1. Interest rates are going up world wide,
2. As has been rightly pointed out aviation isn't where it was meaning any investment is riskier
3. The long term future looks bleaker than it did 3 years ago meaning again investment is riskier.
If they get a refinance deal all it ll mean is that the cost will be higher. Causing more hardship.
This is all on an asset that is in a negative position of a quarter of a billion pounds! With direct loans to the councils of £83m.
Now MME on the other hand owes money too but it owes it to the Tees Valley Authority if they go under the public still keeps the asset. Where as NCL maybe owned by the councils but the debt is a commercial debt so if it can't be paid the public lose the asset.
The issue with servicing the debt is that they have only been servicing the interest.
They need to re finance 60m within a year and 120m within 2 years, before you get onto the rest.
The issue you have now is that you won't get as good a deal as they had previously as
1. Interest rates are going up world wide,
2. As has been rightly pointed out aviation isn't where it was meaning any investment is riskier
3. The long term future looks bleaker than it did 3 years ago meaning again investment is riskier.
If they get a refinance deal all it ll mean is that the cost will be higher. Causing more hardship.
This is all on an asset that is in a negative position of a quarter of a billion pounds! With direct loans to the councils of £83m.
Now MME on the other hand owes money too but it owes it to the Tees Valley Authority if they go under the public still keeps the asset. Where as NCL maybe owned by the councils but the debt is a commercial debt so if it can't be paid the public lose the asset.
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Newcastle is going to be over one million less passengers this year compared to 2019.
Leeds Bradford looking at nearly 3/4 of a million less passengers this year.
That is certainly going to hurt their business case.
Teesside looks like it could be having the best yearly passenger figures for a decade.
Leeds Bradford looking at nearly 3/4 of a million less passengers this year.
That is certainly going to hurt their business case.
Teesside looks like it could be having the best yearly passenger figures for a decade.
Regarding business cases..Are any of the revenue streams ever published ?
i.e. how much money has the Spa ,duty free ,cargo flights etc., helped towards the airport reaching the mayors targets?
Again..just trying to figure out pros and cons..is the Dublin operating or not?
Wonder if the newly announced Belfast Harbour service from Newcastle will effect the Teesside figures?
i.e. how much money has the Spa ,duty free ,cargo flights etc., helped towards the airport reaching the mayors targets?
Again..just trying to figure out pros and cons..is the Dublin operating or not?
Wonder if the newly announced Belfast Harbour service from Newcastle will effect the Teesside figures?
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Regarding business cases..Are any of the revenue streams ever published ?
i.e. how much money has the Spa ,duty free ,cargo flights etc., helped towards the airport reaching the mayors targets?
Again..just trying to figure out pros and cons..is the Dublin operating or not?
Wonder if the newly announced Belfast Harbour service from Newcastle will effect the Teesside figures?
i.e. how much money has the Spa ,duty free ,cargo flights etc., helped towards the airport reaching the mayors targets?
Again..just trying to figure out pros and cons..is the Dublin operating or not?
Wonder if the newly announced Belfast Harbour service from Newcastle will effect the Teesside figures?
Dublin is operating over Christmas then back next summer, a quick search on Loganair’s website would tell you that.
Let’s see if Flybe’s Belfast route actually lasts as I can guarantee the Heathrow will get chopped
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A look at the last 20 years of Teesside accounts.
Teesside Airport Financial Year runs April 1st - March 31st.
Year / Passengers / Income / Loss
2002-03 / 691,191 / £7.4m / £0.7m
2003-04 / 724,962 / £9.8m / £0.8m
2004-05 / 844,098 / £9.7m / £1.0m
2005-06 / 898,597 / £10.8m / £2.7m
2006-07 / 862,288 / £11.2m / £2.2m
2007-08 / 758,533 / £10.8m / £2.3m
2008-09 / 604,778 / £9.0m / £4.0m
2009-10 / 280,195 / £5.5m / £8.0m
2010-11 / 250,703 / £5.7m / £1.4m
2011-12 / 166,360 / £5.2m / (£6.5m) profit due to BMI contract compensation
2012-13 / 154,112 / £4.8m / £3.6m
2013-14 / 162,115 / £4.6m / £4.6m
2014-15 / 141,320 / £4.5m / £2.6m
2015-16 / 143,054 / £4.9m / £3.2m
2016-17 / 125,566 / £5.4m / £2.5m
2017-18 / 131,745 / £7.4m / £2.0m
2018-19 / 137,689 / £7.6m / £5.7m (February 2019 TVCA buys airport)
2019-20 / 139,448 / £7.7m / £1.7m
2020-21 / 14,521 / £4.8m / £13.6m (Covid + Investments)
2021-22 / 83,921 / £7.6m / £11.7m (Covid + Investments)
2022-23 / 118,955 (So far April-September, even with Covid having big impact on KLM route operations)
This current Financial Year will be one to see as at 6 months we have 119k passengers so far with 6 months to go. We could be looking at getting near or surpassing 2011-12 passenger figures at this rate.
What we are looking at going through the winter period:
Amsterdam twice a day, think three a day in the new year.
Aberdeen twice a day.
Belfast four times a week.
Alicante twice a week.
Dublin over Christmas period.
Santa & Northern Lights plus couple other charters.
KLM doing twice daily flights is going to build confidence once again giving certainty on the route giving people the confidence to book.
Teesside Airport Financial Year runs April 1st - March 31st.
Year / Passengers / Income / Loss
2002-03 / 691,191 / £7.4m / £0.7m
2003-04 / 724,962 / £9.8m / £0.8m
2004-05 / 844,098 / £9.7m / £1.0m
2005-06 / 898,597 / £10.8m / £2.7m
2006-07 / 862,288 / £11.2m / £2.2m
2007-08 / 758,533 / £10.8m / £2.3m
2008-09 / 604,778 / £9.0m / £4.0m
2009-10 / 280,195 / £5.5m / £8.0m
2010-11 / 250,703 / £5.7m / £1.4m
2011-12 / 166,360 / £5.2m / (£6.5m) profit due to BMI contract compensation
2012-13 / 154,112 / £4.8m / £3.6m
2013-14 / 162,115 / £4.6m / £4.6m
2014-15 / 141,320 / £4.5m / £2.6m
2015-16 / 143,054 / £4.9m / £3.2m
2016-17 / 125,566 / £5.4m / £2.5m
2017-18 / 131,745 / £7.4m / £2.0m
2018-19 / 137,689 / £7.6m / £5.7m (February 2019 TVCA buys airport)
2019-20 / 139,448 / £7.7m / £1.7m
2020-21 / 14,521 / £4.8m / £13.6m (Covid + Investments)
2021-22 / 83,921 / £7.6m / £11.7m (Covid + Investments)
2022-23 / 118,955 (So far April-September, even with Covid having big impact on KLM route operations)
This current Financial Year will be one to see as at 6 months we have 119k passengers so far with 6 months to go. We could be looking at getting near or surpassing 2011-12 passenger figures at this rate.
What we are looking at going through the winter period:
Amsterdam twice a day, think three a day in the new year.
Aberdeen twice a day.
Belfast four times a week.
Alicante twice a week.
Dublin over Christmas period.
Santa & Northern Lights plus couple other charters.
KLM doing twice daily flights is going to build confidence once again giving certainty on the route giving people the confidence to book.
Last edited by Harold77; 10th Nov 2022 at 18:46. Reason: misfigure
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The planning application. The plans look really impressive. 5 new hangars.
https://www.darlington.gov.uk/enviro...ations-online/
https://www.darlington.gov.uk/enviro...ations-online/
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Good luck to them, but you do have to wonder why Willis have decided to develop an MRO business with 5 new hangars at Teesside. Lets be honest, all the a/c they've handled since they pitched up a couple of years ago would fit into them.
They are specialists in engine leasing, but don't seem to operate an MRO, or an FBO come to that, anywhere else? Am I missing something?
They are specialists in engine leasing, but don't seem to operate an MRO, or an FBO come to that, anywhere else? Am I missing something?
Good luck to them, but you do have to wonder why Willis have decided to develop an MRO business with 5 new hangars at Teesside. Lets be honest, all the a/c they've handled since they pitched up a couple of years ago would fit into them.
They are specialists in engine leasing, but don't seem to operate an MRO, or an FBO come to that, anywhere else? Am I missing something?
They are specialists in engine leasing, but don't seem to operate an MRO, or an FBO come to that, anywhere else? Am I missing something?