Luton-10

[pabely]

Originally Posted by LTNman

A better question is how much goes to LRT aka the Council who are the airport owner? Recent history suggests nothing. Just like the drop off charges, car park charges, trolly charges and fast track charges. The operator keeps the lot while securing another £15m rebate from LRT for this year.

Mugged comes to mind.

It would be unusual for a lessor to pay owner for any profits from it's activities.

Can you then explain then this from AENA Accounts Q1 2023 "At London Luton Airport, other operating expenses have risen by €9.2 million, mainly due to the greater activity which has grown by 73.6% year on year, as well as the rise in the concession fee which increased by €5.8 million" which in my non accounting eyes they are actually paying more now.

And from the 2022 Full year Accounts "The conditions established in the Recovery Agreement have had the following accounting reflection:
– The offsetting of levies for the period from 1 April to 31 December 2020, amounting to £9 million. This was recognised in results of 2020 since during this period the paying and recording the fees of the concession agreement was stopped as the Group considered that the SFM clause of the concession contract was applicable.
– The remaining amount of the compensations amounts to 34.8 million pounds and has been recorded as follows:
• In 2020, Luton considered that in application of the Special Force Majeure clause of the concession agreement, the suspension of the payment of the fees from 1 April 2020 to 31 March 2021 was appropriate. This implied, in application of IFRS 16, a re‐evaluation of the contract proceeding to derecognise the right‐of‐use asset and the lease liability for £15.6 million. As a result of the agreement reached, the minimum fees from 1 April 2021 to 31 March 2027 are again enforceable, so the Group has recorded an increase in lease liabilities amounting to
£15 million (Note 20) and has recognised a receivable in the same amount which will be cancelled as the expected compensation materialises during 2022 (Note 13).
• Finally, £21 million is imputed on a straight‐line basis to results during 2021 and 2026. In 2022, revenues of £3.9 million, approximately €4.6 million (2021: £4.2 million; approximately €4.9 million) have been recognised.
– As a result of the extension of the concession period until 15 August 2032, the value of the right‐of‐use asset and the lease liability was re‐evaluated in 2021, increasing its value by £3.9 million."
So they didn't pay for a year but got an extension to the agreement of a concession extension of 16.5 months (from 31 March 2031 to 15 August 2032) but they are paying more since?

[LTNman]

They got an agreement to hang onto £45m of concession fees spread over 3 years including this year with a bonus 16 months added to the concession at no cost.

LRT accounts are overdue again, which is a regular occurrence now and is flagged red by Company House. The fact that LRT no longer pays a dividend to the Council speaks volumes.

[Kiltrash]

Many thanks to the regulars that replied to my how long ish to get through security....all things being equal I'm planning on arriving at 06.00 for a 07.45 departure...put my mind at rest.

[gdiddy]

Originally Posted by Kiltrash

Many thanks to the regulars that replied to my how long ish to get through security....all things being equal I'm planning on arriving at 06.00 for a 07.45 departure...put my mind at rest.

For all the grief and criticism the airport gets, security isn't usually one of the areas.

It usually is a pretty well run operation and if I have used online/app check-in with the airline and have no luggage to drop off, I can usually be air-side and walking through the duty-free shop to departures within 15-20 minutes of getting off the bus outside the terminal.

Even in the morning peak between 4am-8am, you should be through within 30 minutes.

[Buster the Bear]

Commencing Winter 23/24 timetable, easyJet today announced new services between London Luton and Enfidha in Tunisia.

[pabely]

More works for the other new stands coming online.....NOTAM
B) 23/05/19 11:00 C) 23/05/26 16:00
E) TAXIWAY ECHO DIVERTED CENTRELINE BETWEEN STAND 42R AND ECHO 2 DUE WIP. A FOLLOW ME VEHICLE WILL BE PROVIDED FOR ALL AIRCRAFT MOVEMENTS.

[ClearLand08]

It looks like the 3 Ryanair B737 MAX 8200s which were promised for the summer are now based at Luton according to FlightRadar24 data for the last few days. For info, I also noticed an easyJet A320 parked up on Stand 90 yesterday evening and the fences around the work in progress finishing off the new stands were removed. So I'd expect the stands to come into full use shortly as well as the re-opening of taxiway Delta between D1 and D2.

Does anyone know what the plans are for the old Clubrooms lounge inside the terminal? I seem to remember this opened in July 2019 but hasn't been operating since COVID?

[pabely]

NOTAM says Delta reopening 7th at 17:00
When did NetJets setup Maintenance?
https://www.corporatejetinvestor.com...intenance-hub/
I assume in Hangers 7&8 ?

[LTNman]

The windows of hangar 7&8 have been covered in NetJets stickers for months. Bombardia also seem to have a presence in the hangar.

[pabely]

Originally Posted by LTNman

The windows of hangar 7&8 have been covered in NetJets stickers for months. Bombardia also seem to have a presence in the hangar.

I did know, just moving the discussion along.
I think AirX have a presence as well.
Anyone using hangar 9, old Monarch Logistics Hub?
I predict Hangar 60 will get used by someone once all these new stands come online and the flightline doors no longer need to get blocked by night parking 320/737s.

[Falcon666]

See there is a Tender out for a Solar Farm within the Airport boundary south of the runway- Min 10GW site by 2025. Expected the produce about 25% of Airports requirement.

[pabely]

Are they not going to have these helpers working every day!?
https://simpleflying.com/london-luto...layer-luggage/

[LTNman]

We know that carrying heavy bags can make the beginning of a holiday feel like hard work. And our research shows that luggage is one of the main causes of contention for travelers before their next adventure.

This is the company that talks the talk but still intends to charge £2 or €2 for a luggage trolly.

[pabely]

Originally Posted by LTNman

This is the company that talks the talk but still intends to charge £2 or €2 for a luggage trolly.

Money saving expert picked up on this in 2016 and points out Bristol Airport does the same. I think Birmingham does as well so nothing totally new. Using Euros as well saves a little but when I last had to use them we found a few abandoned at checkin so paid nout!

[Spanish eyes]

I stopped off and used the facilities of Fleet service station on the M3 yesterday. It pains me to say that the public space is far posher than Luton’s terminal which just feels cheap and nasty. Luton’s terminal is in serious need of an upgrade starting off with installing a ceiling.

[pabely]

Originally Posted by Spanish eyes

I stopped off and used the facilities of Fleet service station on the M3 yesterday. It pains me to say that the public space is far posher than Luton’s terminal which just feels cheap and nasty. Luton’s terminal is in serious need of an upgrade starting off with installing a ceiling.

Hardly comparing like for like, had a quick look at a recent survey and Fleet is one of the better outlets in the operators chain although North & South have different scores. The operator, Welcome Break has most sites in the bottom half of the survey. There are some horrible sites which you would want to pass by. The survey does note are large number of customers spend no money, only visiting for a call of nature. If you go to France then most are very nice but I assume the toll road system helps in keeping up standards.

On a separate matter, it is all quiet about the DART, is it working well? Not heard of any breakdowns or any need for the backup bus service?

[PAXboy]

I do not expect to see the ceiling installed - ever. There is no ceiling to save money and they are not going to spend more.

[Spanish eyes]

Originally Posted by pabely

Hardly comparing like for like

Exactly, Luton should be far superior to a motorway service station yet it is not.

[vectisman]

Originally Posted by Spanish eyes

I stopped off and used the facilities of Fleet service station on the M3 yesterday. It pains me to say that the public space is far posher than Luton’s terminal which just feels cheap and nasty. Luton’s terminal is in serious need of an upgrade starting off with installing a ceiling.

I doubt this is the top concern for millions of passengers using Luton Airport. I expect most looked at routes available, the schedules and the prices. In addition possibly ease of use.

[LTNman]

Doesn’t stop the abundance of Trustpilot 1* reviews

https://uk.trustpilot.com/review/www.london-luton.co.uk