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Time for the 5 council leaders to support Bens plan and get rid of Peel. Well done to Ben Houchen. Even Robert Hough was smiling ;)
https://www.gazettelive.co.uk/news/t...-deal-15499626 |
why
Sorry but why are Peel being allowed to buy back this share is it not them who utterly ruined the airport.
It has almost as little traffic for pax as HUY. Another odity that being a Base for Eastern offers no domestic routes or even Copenhagen or Stavanger . Dublin etc. |
Originally Posted by EGPO
(Post 10327582)
Sorry but why are Peel being allowed to buy back this share is it not them who utterly ruined the airport.
It has almost as little traffic for pax as HUY. Another odity that being a Base for Eastern offers no domestic routes or even Copenhagen or Stavanger . Dublin etc. |
Originally Posted by EGPO
(Post 10327582)
Sorry but why are Peel being allowed to buy back this share is it not them who utterly ruined the airport.
Let's not get excited until the councillors ratify his plan, because frankly I suspect they will not on principle regardless of whether or not they agree with it. Impressed he got the full land mind!! I have to tip my hat. |
And he's pointed out that the land is worth more than he's agreed to pay.... :E
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Sorry I misunderstood
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Buy an asset for half a million, then a couple of years later sell it back in worse condition for £40m. I wish I could find opportunities like that. The spotters might think it's a good deal, but as a tax-payer I would have to disagree.
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Originally Posted by Hipennine
(Post 10327639)
Buy an asset for half a million, then a couple of years later sell it back in worse condition for £40m. I wish I could find opportunities like that. The spotters might think it's a good deal, but as a tax-payer I would have to disagree.
Can't blame Peel for buying the place for half a mil, if you walk into EE and they're flogging iPhones for a fiver, you're gonna buy one! |
A bit more than a couple of years, and depends how much you'd have had to pay out in losses in the intervening period
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Originally Posted by No-More-Bullschit
(Post 10327654)
Why? It's not your money
Can't blame Peel for buying the place for half a mil, if you walk into EE and they're flogging iPhones for a fiver, you're gonna buy one! And no, I don't blame Peel, I would do the same, that's the point I was making. It does however raise serious questions about the people who negotiated and signed off the deal to sell it (and those now talking about buying it). |
The Mayor made it quite clear it would not affect the taxpayer
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Originally Posted by No-More-Bullschit
(Post 10327679)
The Mayor made it quite clear it would not affect the taxpayer
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The rollercoaster runs on a bit longer, out of all the mayors words this is a bit chilling! So it could be houses in five years.
Mr Houchen said that in the worst case scenario and his plan failed and the airport shut in five years, he believed the 819 acres plus the land with housing planned for it represented a sound investment.He said: "There is more residual value than we are spending on it." |
Now wouldn't that be ironic!
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Originally Posted by No-More-Bullschit
(Post 10327679)
The Mayor made it quite clear it would not affect the taxpayer
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Does the deal include the South side land earmarked for development?
I think £40m is a snip considering Peel were hoping for £25m for the housing development alone! Don't get me started on the original deal between the council's and Peel. 😡 Please bear in mind the supposed losses at the airport include loan repayments back to Peel. These should in theory if the deal is done properly be no more! Even at a lower end guess using the quoted £5m payment for the housing development, I would estimate a possible land value in the £50m range with a maximum going by the proposed £25m Peel hoped to make at £250m! |
Onion, think its the whole lot. We then just have to see who the Mayor gets as a partner to run the airfield.
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Well thats the easy part buying the airport back.
Hardest part is getting an airline to bring passengers back to DTV i just cant see any wanting to come. TCX has pulled an aircraft from NCL is closing LBA as a base TUI is closing LBA I cant see Jet2 wanting to come along maybe the odd flight Ryanair wouldnt last with out a payment for flying in |
tThe last post says it all..with Brexit et al..aviation UK is in a bit of a kerfuffle ..who other than the local tax payers are going to pick up the running costs of this stagnant airport ? Would that 40 million plus not be better spent on railways,roads and social services? Just a thought..major airports north and south within 1 hour available..will that really hold back the Teesside economy if people use them. Great deal though by the mayor.Retrieving the airport from the possible Abyss..? Great people, land and heritage doesn’t nesessarily need an airport? Apologies to Little Britain for my spelling of Kerffule ! |
Your the only highwideandugly in the village!
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