Originally Posted by pabely
(Post 11610736)
Exactly, what pipeline of contacts do they have within the Industry? I suspect this will be a totally new ballgame for them with the LCCs having the upper hand to demand zero cost or incentives which does little on ROI for investors.
|
I assume one of the first changes will be an external FBO will be tendered, as Southend always under achieved with in-house handling.
|
Originally Posted by jmdavies86
(Post 11610210)
I do wonder what state Esken may have been in today had they not chosen to oust Andrew Tinkler as their CEO - he was instrumental in leading Stobart’s transformation into a FTSE 250 listed business with a turnover of £1.6bn and 10,000 employees.
Yes, he talked a good talk, but I got the feeling he ran Stobart like a personal fiefdom rather than a quoted company, and it's not clear what, if any, shareholder value was created. |
https://www.echo-news.co.uk/news/241...-new-airlines/
A RESCUE deal has been agreed for Southend Airport which could pave the way for new airlines and passenger numbers soaring to six million a year. “Getting Wizz or someone to base three or four aircraft there would not solve the issues overnight. “One issue is whether it’s simply a marketing issue with the airport failing to make its case to the London catchment area and the airlines.” |
Originally Posted by Andy_S
(Post 11610820)
Putting aside the fact that the Pandemic would have happened with or without Tinkler, there are some who thought he was part of the problem rather than the solution. After all, there must have been a reason he was ousted.......
Yes, he talked a good talk, but I got the feeling he ran Stobart like a personal fiefdom rather than a quoted company, and it's not clear what, if any, shareholder value was created. |
Originally Posted by Andy_S
(Post 11610820)
Putting aside the fact that the Pandemic would have happened with or without Tinkler, there are some who thought he was part of the problem rather than the solution. After all, there must have been a reason he was ousted.......
Yes, he talked a good talk, but I got the feeling he ran Stobart like a personal fiefdom rather than a quoted company, and it's not clear what, if any, shareholder value was created. |
Originally Posted by SWBKCB
(Post 11610836)
Cos it's all gone so well since he left...
You can speculate all day long about what may have happened if he had stayed. We'll never know. I would only add that it's easy to be impressed by what you see on the surface; new terminal, dedicated railway station, based aircraft. That doesn't necessarily mean the underlying business was healthy or well run. |
Originally Posted by DC3 Dave
(Post 11610842)
From memory Warwick Brady was appointed CEO of Stobart all the way back in 2017.
|
From the outside, it looks like Esken sold off all their sustainable businesses and stuck it all on SEN. That would seem to be a strategic error which has killed the business.
|
Originally Posted by Andy_S
(Post 11610862)
Fair comment. But even if Tinkler had remained, the pandemic would still have happened. Would SEN have fared any better?
|
Actually Andrew Tinkler deserves a lot of credit for his purchase of SEN in the first place and his vision to turn it into a modern airport which scored highly in passenger satisfaction surveys. He also oversaw the runway being developed to its maximum potential within its physical constraints. Without that there would be no chance of it perhaps regaining a respectable position among the London airports in terms of commercial success, as now seems at least a possibility.
|
As far as I recall, it was Warwick Brady who was a major driving force behind committing so much finance into the acquisition of Flybe 2.
|
An aviation lecturer believes there is an opportunity for the airport to handle 6m pax a year, righty ho then! :ok:
|
Pax numbers are vanity, profit is sanity...
I think certain posters on here need to be reminded that pre-pandemic SEN was losing money despite good pax numbers. LCCs were using SEN because it was cheap to use. That benefitted the LCCs and not SEN.
The only hope for the airport going forward is a good mix of scheduled, charter, GA, cargo and biz-jets. Build suitable facilities for each sector, rent at attractive terms and be a landlord not a competitor to the tenants. Finally understand the runway limitations and target near Europe destinations utilising regional turboprops/small jetliners. The big London airports can concentrate on the 156+ pax market. |
Originally Posted by LTNman
(Post 11610782)
I assume one of the first changes will be an external FBO will be tendered, as Southend always under achieved with in-house handling.
New facilities are needed to tempt new tenants but I don't see any likely commitment on that front. Just look what has been invested at Oxford, Biggin & Farnborough. The 727s live in / outside a facility unfit for purpose, Air Livery could quite easily close and work go to Norwich. The LCCs will screw you, don't see Easyjet currently looking at a new base, Ryanair will want to be paid to come back. Wizzair cannot keep the current operation going due to Airbus engine issues. I would love to be proved wrong but this time next year, I see alot of the cash being burnt through without significant gain in passenger services. The passenger terminal being restricted hours is an inefficient cost burden along with fire cover. The $B investment company will want a return - trouble is I don't see it currently. Glad to be corrected....... |
Originally Posted by Lord Gumboil Jnr.
(Post 11610982)
As far as I recall, it was Warwick Brady who was a major driving force behind committing so much finance into the acquisition of Flybe 2.
|
Finally understand the runway limitations and target near Europe destinations utilising regional turboprops/small jetliners. We now seem to be back in the position where it is a bet on the other London airports filling up and SEN picking up the overflow. Looks like a long game, with deep pockets and a strong nerve needed. |
Originally Posted by Expressflight
(Post 11611234)
I was talking about the period from December 2008 through to when Brady arrived. He just got carried away with his vision for SEN.
The figure of 30 million was published by the serious press at the time so I have assumed it was correct. To be fair to Mr Brady, if I was on one tenth of that incentive I would get carried away as well. |
Originally Posted by pabely
(Post 11611020)
I have said this before. Picking up crumbs in the Summer when Luton & Stansted have night time restrictions cannot be lived upon.
New facilities are needed to tempt new tenants but I don't see any likely commitment on that front. Just look what has been invested at Oxford, Biggin & Farnborough. The 727s live in / outside a facility unfit for purpose, Air Livery could quite easily close and work go to Norwich. The LCCs will screw you, don't see Easyjet currently looking at a new base, Ryanair will want to be paid to come back. Wizzair cannot keep the current operation going due to Airbus engine issues. I would love to be proved wrong but this time next year, I see alot of the cash being burnt through without significant gain in passenger services. The passenger terminal being restricted hours is an inefficient cost burden along with fire cover. The $B investment company will want a return - trouble is I don't see it currently. Glad to be corrected....... |
Originally Posted by Markushillman
(Post 11611253)
Do believe Air Livery are hoping one day to have a 5 hanger facility built on the North Side of Norwich Airport at the planned aeropark which will handle all their narrow body work and hence make Southend redundant.
|
All times are GMT. The time now is 02:09. |
Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.