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Passenger numbers have nothing to do with it.
Anyone can fill an A321 if you sell every seat for £10 but you'll lose £'000s per flight which is exactly what happened (maybe not that extreme, I know seats were sold for more than £10) but it's about yield and profitability NOT passenger numbers. Some of the most profitable routes on an airlines network can have reasonably low load factors ... |
New Part Owner
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Global investment manager AMP Capital makes a swoop for London Luton Airport as it picks up 49 per cent stake from Ardian
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Originally Posted by ericlday
(Post 10128444)
Global investment manager AMP Capital makes a swoop for London Luton Airport as it picks up 49 per cent stake from Ardian
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AMP Capital hold stakes in
Melbourne and Port Hedland Airport's in Australia. Here in the UK it owns Leeds/Bradford along with having a 49% stake in Newcastle Airport. |
Interestingly Aena who own 51% of Luton Airport and had the preferential right of buying the remaining 49% stake purchased by AMP Capital today had already said they were not interested...
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Originally Posted by southside bobby
(Post 10128501)
Interestingly Aena who own 51% of Luton Airport and had the preferential right of buying the remaining 49% stake purchased by AMP Capital today had already said they were not interested...
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With just 13 years left on the lease as a minority holder that is a very good question.
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Does the borough council/LLAO and AENA have a say in the new 49% owner, or is it simply the highest bidder that buys Ardians share?
Just curious, as when the airport managment lease comes up for renewal, the council can choose and stipulate in the tender what they expect over the term of the lease and where investment needs to be made. Then choose the new management company accordingly, however if a company comes in halfway through the lease, they don't have any obligations, do they? |
So the trench (see previous post photo), which is being part filled in concrete and that sits next to the Tesco type existing walkway is getting longer by the day and now reaches almost the edge of the taxi rank. Thinking the unthinkable are these actually foundations for a new bespoke covered walkway? In the original artist impressions the fancy walkway roof was supported by a single row of columns.
One advantage of the 5 cul-de-sac drop off lanes is that the lanes don't need pedestrian crossings, which was the curse of the existing design. Will this temporary drop off area only open once the road is diverted over the the new subway? |
Does the borough council/LLAO and AENA have a say in the new 49% owner, or is it simply the highest bidder that buys Ardians share? One point to note is that all the loans taken out by LLAL, which is the actual owner of the airport and is 100% owned by the council are due to be paid in 2028 and 2031. These dates are significant as 2028 was the original date that the existing franchise ended and 2031 was the revised date. While the expansion to 18 million is being funded by Aena and its partner the £225 million rail link is being funded by LLAL plus another £49 million borrowed for other completed projects by LLAL. The new franchise deal, when taken out in 2031, will pay off these loans with up front payments so costing the council and LLAL nothing as the interest payments to the council by LLAL are higher than the borrowing costs for the council. |
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Nothing odd about an investment company selling its stake at an opportune time. But Ardian almost seem to be moaning about the airport's success exceeding their wildest expectations.
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Originally Posted by DC3 Dave
(Post 10129026)
Nothing odd about an investment company selling its stake at an opportune time. But Ardian almost seem to be moaning about the airport's success exceeding their wildest expectations.
I guess that's capitalism, but not going to go down that path. Could be the reason why AENA also didn't want to invest further either. Makes you wonder if the airport will only be doing controlled or limited growth over next few years? I suspect if that is the case the council and operators will be on a collision course, with different views of how the airport grows, like which what happened about five years ago. -------------------------- On another note, looks like the airport could be heading for the perfect storm this summer. The airport staff, Menzies and FX staff all threatening industrial action and being balloted! http://www.mirror.co.uk/travel/news/...-2018-12418519 |
More charters tomorrow, Luxair B737, Azerbaijan B787 and Air Europa A330 with Athletico Madrid FC.
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Makes you wonder if the airport will only be doing controlled or limited growth over next few years? I suspect if that is the case the council and operators will be on a collision course, with different views of how the airport grows, like which what happened about five years ago. LLAL are bringing out their expansion plans in June to double the size of the airport although I doubt that is achievable so we might end up with a smaller proposed project. If it gets planning permission the question then becomes who will fund it. If like the DART link it is funded by the council they will just get the money back via the upfront concession fee that will be paid out in 2031. |
LTNman, back in the late 90's I had a very good chat with 'a future' airport Director. I remember the conversation very well. He stated that once the airport achieved 5 million passengers that would be enough and no further growth would happen. I disagreed with him. On that note and based on the fact the airport will acheive 16.5 million this year and therefore with the right investment the airport is more than capable of achieving 38 million passengers during its transition over the next couple of decades if not sooner! I am certain that the east of the airfield will have a satelite building with up to a minimum 18 stands and connected to the main terminal building via a escalator / people mover! Growth is there for the taking but only for those with funds to literally fund its development. This may transpire when a new leasholder takes the realm...
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To achieve 38 million they would have to expand airside onto Wigmore Park which according to LLAL is earmarked for a business park thus the new dual carriageway. We will have to wait until June to see what the plan actually is.
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The new costa opens today - 25th April Starbucks scheduled to open this weekend Burger king opens 25th May M&S opens 11th June second set of entrance/exit doors to the terminal opens 22nd May with works completed in this area including covered canopy by end of June. the new temporary drop off area and seperate lane for buses scheduled to open by end of May. Details published to easyJet staff after an update from our facilities team’s meeting with LLA |
Thanks for the update, there are some tight deadlines in there for M&S and Burger King as both are still empty shells. No mention about the completion dates for the rest of the projects then including the expanded security area, immigration hall and baggage reclaim area with its extra belts or the finishing off of the entrance concourse, which is still a mess with no new work carried out since the new build opened. If the drop off area opens at the end of May then passengers will have to somehow cross the ring road as the subway won’t be open by then as the road will need diverting. As mentioned before think 2016 and the temporary pedestrian crossing that brought the CTA to a standstill with just the passengers using the short term car park. One minor issue is that the public keep using one of the fire exits by the main entrance. Once open, like sheep, everyone follows thus defeating the heating and cooling air traps and the special flooring to keep the tiled terminal floor dry. |
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