Liverpool-5
Does Peel treat Liverpool differently than its other airports. Do they spend their own money or still try and get grants and payments from the local council and central government.
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Liverpool Airport Group have several vehicles to conceal these funds .Right now something approaching £4millions ( equal to those grants] has been squirrelled away into a special vehicle specifically for directors .That vehicle is called Liverpool Airport (intermediate) No2 a separate legal company .
Funds of around £150,000 are also accrued from Doncaster for “shared services”
Peel/ Vantage Airports are operated pretty much as a tax liability to the more profitable sectors of the Peel group.
The lack of dividends anytime soon was part of the reason the Canadians offloaded much of their investments rather cheaply back to Peel !
The other shareholders are minority companies and aren’t at all happy with the lack of dividends that’s for sure.
Group reserves ( cash) was under £200,000 at last report not at all spectacular
Is the airport solvent- questionable without an amount of creativity in the accounts and auditing processes
Like the rest of the aviation division it’s the land bank value that’s important
Liverpudlian fan boys don’t like to be reminded of this through
Last edited by Rutan16; 10th Sep 2022 at 19:12.
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It’s difficult to interpret accounts without input from the Directors and the greater the number of subsidiaries the more opaque they become. For instance, Doncaster has Other Administrative Expenses of £5.7m with no detailed analysis, which could include a myriad of management fees. Peel are not known as risk takers but are probably highly adept at maximising tax planning.
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Vantage haven’t had a stake in Liverpool Airport for years. You’re also conflating the Group, which is a holding company and Liverpool Airport Limited.
Pre-pandemic the airport made a £4.7m operating profit on almost £34m turnover.
The only ’grants’ I’m aware of were EU funding from when the ‘new’ terminal was built in 2002. That money will have conditions attached so it may well be accounted for separately. Any recent investments have been shareholder funded.
Pre-pandemic the airport made a £4.7m operating profit on almost £34m turnover.
The only ’grants’ I’m aware of were EU funding from when the ‘new’ terminal was built in 2002. That money will have conditions attached so it may well be accounted for separately. Any recent investments have been shareholder funded.
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It’s difficult to interpret accounts without input from the Directors and the greater the number of subsidiaries the more opaque they become. For instance, Doncaster has Other Administrative Expenses of £5.7m with no detailed analysis, which could include a myriad of management fees. Peel are not known as risk takers but are probably highly adept at maximising tax planning.
I think they have maybe a dozen little “ companies” each cross billing each other for services rendered .
Peel are a shoddy outfit even in their property and marine portfolios
The accounts are deliberately constructed to be opaque
AndyH …… I used the prior Vantage name for emphasis “ it’s remains a registered company in Companies House through dormant
As for the operating profit you refer to its pre tax and other write downs -it became a loss in the final accounts
I did expect the usual suspects to chime in through
As these are corporate issues not the day to day running of the Terminals
Again creative accounts are necessary to obscure the financial poor performance of the Group of Companies
A greater pity is the politicians in the City Region barely give a toss either !
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It’s difficult to interpret accounts without input from the Directors and the greater the number of subsidiaries the more opaque they become. For instance, Doncaster has Other Administrative Expenses of £5.7m with no detailed analysis, which could include a myriad of management fees. Peel are not known as risk takers but are probably highly adept at maximising tax planning.
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AndyH …… I used the prior Vantage name for emphasis “ it’s remains a registered company in Companies House through dormant
As for the operating profit you refer to its pre tax and other write downs -it became a loss in the final accounts
I did expect the usual suspects to chime in through
As these are corporate issues not the day to day running of the Terminals
Again creative accounts are necessary to obscure the financial poor performance of the Group of Companies
A greater pity is the politicians in the City Region barely give a toss either !
I’d also hope said investor or director might understand how you might end up with complex accounts for a group operating structure, especially when that group does provide cross services and has also funded growth through equity investment at different stages. See Manchester Airport Group as an example…
I’ll always “chime in” when I see the ‘usual suspects’ contributing incorrect or misleading information.
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In other news, this is a very positive development on the airport’s doorstep:
https://www.placenorthwest.co.uk/pha...eke-expansion/
https://www.placenorthwest.co.uk/pha...eke-expansion/
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ANDY I have no grip with you here or elsewhere and I yield when provided with supportive evidence .What don’t and won’t do is fall for sycophantic nonsense !
Why Is it YOU take offence and an adopt a level of aggression rather than pointing to other evidence it’s most unpleasant here and in another place !
Open discussion shouldn’t take such tones !
Do I have a personal issue with you no .Do I have issues with Peel yes they are the worst aviation business in the UK
Ruined and closed Sheffield, Ruined and neglected the core operations of Tees side and now at Doncaster - Common thread land values
Tried to ditch Liverpool and even that back fired
Liverpool lost their parcel service , for years Easy and Ryan have simply moved deck chairs with little genuine expansion ( true a practice of flexible fares carriers) .
Compared to similar sized operations Liverpool has stagnated.
Now I was generally replying to the private 707 chap , a person that’s been here for decades a respected and knowledgeable commentator and one that clearly has a handle on Peel !
Again why do YOU take aggressive stances and why do you and others elsewhere feel the need to bloke out other views and indeed anyone else from posting to the point of calling them trolls or even attempting to bar them ( especially those with PAID subscription)
Liverpool airport a small regional airport serving a city region as a business it’s not a football team , and some of the management practices are absolutely open for debate and criticism
You might have a differing opinion and I respect that but when a Peel group company owed you £178,000 in unpaid invoices for 120 days you might have a sour taste for that organisation don’t you think ?
Seems however the cabal aren’t satisfied with toxicity elsewhere and are bringing it here as well
Why Is it YOU take offence and an adopt a level of aggression rather than pointing to other evidence it’s most unpleasant here and in another place !
Open discussion shouldn’t take such tones !
Do I have a personal issue with you no .Do I have issues with Peel yes they are the worst aviation business in the UK
Ruined and closed Sheffield, Ruined and neglected the core operations of Tees side and now at Doncaster - Common thread land values
Tried to ditch Liverpool and even that back fired
Liverpool lost their parcel service , for years Easy and Ryan have simply moved deck chairs with little genuine expansion ( true a practice of flexible fares carriers) .
Compared to similar sized operations Liverpool has stagnated.
Now I was generally replying to the private 707 chap , a person that’s been here for decades a respected and knowledgeable commentator and one that clearly has a handle on Peel !
Again why do YOU take aggressive stances and why do you and others elsewhere feel the need to bloke out other views and indeed anyone else from posting to the point of calling them trolls or even attempting to bar them ( especially those with PAID subscription)
Liverpool airport a small regional airport serving a city region as a business it’s not a football team , and some of the management practices are absolutely open for debate and criticism
You might have a differing opinion and I respect that but when a Peel group company owed you £178,000 in unpaid invoices for 120 days you might have a sour taste for that organisation don’t you think ?
Seems however the cabal aren’t satisfied with toxicity elsewhere and are bringing it here as well
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90 day terms for invoice payment is pretty standard for a large corporate but 120 days really is taking the ****. It’s about time an enforceable code of conduct was introduced for invoice payment but the chances of that happening at present is zero.
Ruined and closed Sheffield, Ruined and neglected the core operations of Tees side and now at Doncaster - Common thread land values
Liverpool lost their parcel service
Liverpool airport a small regional airport serving a city region as a business it’s not a football team
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I'll re-phrase that - Royal Mail have switched their operation from air to road. That's what I meant by the market disappearing - they no longer had a need for air transport.
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Rutan. If my responses come across as aggressive. I apologise. It’s a natural reaction when I feel I am being patronised or gaslit.
I can understand how your past experience with Peel Group has left a bitter taste. It comes through loud and clear in some of your posts.
This was a decent forum for a long time, but no longer, it seems. I’m tired of people dressing opinion up as fact and creating a sense that truth doesn’t matter anymore.
I’ll leave you to it.
I can understand how your past experience with Peel Group has left a bitter taste. It comes through loud and clear in some of your posts.
This was a decent forum for a long time, but no longer, it seems. I’m tired of people dressing opinion up as fact and creating a sense that truth doesn’t matter anymore.
I’ll leave you to it.
That's not strictly true, either. The UK operation is now centred on EMA, where mail (letters and parcels), for distribution throughout the UK, and particularly across water, are moved through a facility there.
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This with their experience and facilities available apron space and warehousing - Should have got a least one of the consolidators- didnt !
Sheffield market didn’t disappear- Peel made it so