Wizz Air used to do the same

DTV Airport owner Whittaker loses $350m in a day.
 

DTV Airport owner Whittaker made a $350m loss today.
Note the bit about building houses.
https://www.bloomberg.com/news/artic...ped?srnd=deals
"Whittaker, 76, said he remains a committed Intu shareholder, citing the opportunity to add to the company’s property assets by building homes, hotels and offices next to its malls."

https://www.bbc.com/news/amp/business-46383066

Sorry looked and couldn't find anything relevant to DTVA, again! As relevant as Major Houchin's gas fired power station.

Property developer in developing property shock! :eek:

DTV discussion by councillors in the press.
Haven't heard anything from Peel about how well their old Master plan is going, but at least the airport got a mention ;)
https://www.thenorthernecho.co.uk/ne...ort-for-mayor/

The next DTV Airport Ltd accounts and confirmation statement are both due this month. Should make interesting reading.
https://beta.companieshouse.gov.uk/company/02020423

Question for those with company knowledge. What do the "Outstanding Charges" mean?
https://beta.companieshouse.gov.uk/c...020423/charges

Companies House documents referring to airport.
 

Having looked more closely at the companies house documents the outstanding charges appear to be some sort of agreement from what I can see when I opened the pdf files.

Does this mean that Middlesbrough council and the other people mentioned in the 2 charges actually own the St.George Hotel and other plot of land at the Oak Tree?
Could prove interesting for Peels housebuilding plans.
Middlesbrough council charge.
https://beta.companieshouse.gov.uk/c...S6vp6CLFlq57-o

Charles and Delsa charge.
https://beta.companieshouse.gov.uk/c...PrvCZy0QIrvI-0

A charge is a loan secured against assets. I.e. whoever makes the loan takes out a charge as security, otherwise known as a mortgage. Standard business lending practice.

Thank you Hipennine,
With the outstanding charges being made against the St.George Hotel, and other Oak tree land, what does that mean for Peel and DTV Airport Ltd? I thought they owned all of the land on the North side for the upcoming house building?
Can they build on that land with the charges still outstanding?
If the Middlesbrough Council charge was for a loan where did that money go???

The Middlesbrough council outstanding charge agreement was signed by 2 local DTV Directors, and a person from the council.
It appears to be some sort of mortgage against the staff pensions, but applied against a property? The signatures are shown on the pdf file enclosed.
https://beta.companieshouse.gov.uk/company/02020423/charges/886mnkbJgXmQlS6vp6CLFlq57-o

:confused:

Moving away from Peel's balance sheets, it seems that the mayor will be announcing something tomorrow morning:

https://www.gazettelive.co.uk/news/t...r-buy-15498932

Airport land for sale. Advert says POA.
 

Re Gazette, good news I hope.
If anyone is looking for land at the airport, these plots are for sale on the South side. Various sizes. Nice view of the runway.
https://www.rightmove.co.uk/commerci...-69653270.html

Mayor probably won't get those bits for his 40m.

Well if I was lending money to them secured against land, and they wanted to stick houses on it, I think I'd be delighted. Remember that the charge is security against a bed debt, In this case, by building houses, the value of the security increases many times compared to the original so I'd be very happy. However, I don't know what conditionalities are attached to the charges.

Re Mi9ddlesbrough Council outstanding charge on accounts.
 

Re the Middlesbrough outstanding charge shown on the airports accounts. It applies to the St.George Hotel from what I can see in the accounts. There are no current plans to build on the hotel site, just around it.
I wonder why this charge hasn't been discussed in the public council chambers given the public concerns about Peel and the airport.
There are over a 100 public comments under the Gazette article today.
https://www.gazettelive.co.uk/news/t...r-buy-15498932

perpetual gloom
 

I've kept an eye on this thread for some time , and can really feel for the people who care so much for your local Airport.
But can , I ask .
What as a community has been done to try save it, for example petitions , lobbying , Your MP, Even down to the Town council in the Area of which the Airport is based Right upto which ever person is Transport minister this week .
It's sad that a once highly profitable Airport which in itself should prove demand is or was there .
Yet it's current offering Mirrors that of Humberside . It's crazy that this company which has made such efforts at Liverpool and DSA , have allowed an Airport which is in an Area that could in theory overlap DSA's Northern most catchment , and West toward the towns of the sales, ok not vast numbers .
But it seems to have now reached a time where it has to be decided ,either close it or keep it open , Government buy out until a suitable oporator can be found.
Ibut either way this constant arguments cannot go on .
It can't be good for the airport, which seems not to have a suitable plan , I mean it says it all when they could not hang on to Loganair .
And it is not good for the community .
Finally people will say well you have Newcastle Leeds or even DSA,.
But not everyone wants to or can Drive , coupled with a rail link that is parliamentary Service, getting from that Area to those other airports is not easy .
And until the A1 us upgraded to three lanes from Washington to the Bridge , then the jams make Newcastle not the best option .
However afterward it could be the final nail in the coffin .
But I pray you have sucsess and someone can make a go of it , but given HUY has not really done much to attract new routes if say best of luck!.

The Tees Valley Mayor, Ben Houchen has just been live on Facebook from the airport. He is giving Peel £35m to purchase their share of the airport back, and stop the housing development. He is vowing to stop the housing development and not a 'single home will be built on the airport site' - while also taking the airport back in to the local authority's hands.

From the Gazette website - doesn't actually say where the money is coming from, or what the opportunity cost is:

Sorry, he has said where it's coming from - £40m in total.

Yep - then he went on to state the funding regarding Darlington & Middlesbrough stations, before bouncing back and saying it will have no impact on local authorities, businesses etc negatively as the funding is from central government, not locally.

The £40m is the purchase price from Peel - has anything been said about covering on-going running costs and investment?

Obviously the aim will be for the airport to eventually be self-financing, but what happens in the mean-time?

He hasn't mentioned anything about ongoing costs as yet, his Instagram says he requires approval from local authorities first - so im assuming he's put the ongoing costs on the backburner until he receives authorisation for the purchase?