Dubai Aerospace to buy 60% of Auckland Airport
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Dubai Aerospace to buy 60% of Auckland Airport
The NZ Herald is reporting today that Dubai Aerospace is in final negotiations to buy between 51-60% of Auckland Airport.
Makes you wonder if an Auckland hub for Emirates is getting closer?
Makes you wonder if an Auckland hub for Emirates is getting closer?
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Hmmmm, yes. Sinister motive indeed. Perhaps Dubai is gonna buy the airfield and then close it down and chop it up into little pieces.......I think you might be on(to) something there, brassplate.
Kamel - thanks for the news. I suppose your hub theory could indeed be close to the mark.
Kamel - thanks for the news. I suppose your hub theory could indeed be close to the mark.
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..not only my speculation...a further article in The Herald this morning;
____________________________________________________________ ___
Air New Zealand shares fell sharply yesterday on concerns that Dubai Aerospace Enterprise's offer for Auckland International Airport would mean more competition on key routes for the national carrier.
After the release of Dubai Aerospace's $3.80 cash and scrip offer, Air New Zealand shares fell 15c to $2.54. Analysts said the market saw the deal as a potential negative for Air NZ because of Dubai Aeropace's links with rival airline Emirates.
Emirates and Dubai Aerospace have a common chairman and the Dubai Government is a significant shareholder in both companies.
Ricky Ward of Tyndall Asset Management said expectations were that Emirates would use Auckland as a hub. "That invokes further competition on the transtasman route, and clearly that's detrimental to Air New Zealand." Tyndall was aware of rumours that Emirates had been eyeing Auckland as a potential hub for some time.
It is understood that Auckland is viewed as the second best option for a hub linking China and India with South America. Sydney would be the preferred option but is already too congested for Emirates to upscale.
Dubai Aerospace was quick to dismiss any suggestion of a link with Emirates yesterday. Although they share the same chairman they were stand-alone business units which operated at "arms length", the company said.
Stewart Milne, executive director of the Board of Airline Representatives, was optimistic all airlines would benefit from Dubai's ownership of the airport. "With a new owner with an international perspective, our hope would be that airport charges would reduce."
____________________________________________________________ ___
Air New Zealand shares fell sharply yesterday on concerns that Dubai Aerospace Enterprise's offer for Auckland International Airport would mean more competition on key routes for the national carrier.
After the release of Dubai Aerospace's $3.80 cash and scrip offer, Air New Zealand shares fell 15c to $2.54. Analysts said the market saw the deal as a potential negative for Air NZ because of Dubai Aeropace's links with rival airline Emirates.
Emirates and Dubai Aerospace have a common chairman and the Dubai Government is a significant shareholder in both companies.
Ricky Ward of Tyndall Asset Management said expectations were that Emirates would use Auckland as a hub. "That invokes further competition on the transtasman route, and clearly that's detrimental to Air New Zealand." Tyndall was aware of rumours that Emirates had been eyeing Auckland as a potential hub for some time.
It is understood that Auckland is viewed as the second best option for a hub linking China and India with South America. Sydney would be the preferred option but is already too congested for Emirates to upscale.
Dubai Aerospace was quick to dismiss any suggestion of a link with Emirates yesterday. Although they share the same chairman they were stand-alone business units which operated at "arms length", the company said.
Stewart Milne, executive director of the Board of Airline Representatives, was optimistic all airlines would benefit from Dubai's ownership of the airport. "With a new owner with an international perspective, our hope would be that airport charges would reduce."
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Sydney Morning Herald 24/7/2007
Dubai sways board with $2.3b offer for Auckland airport
THE Dubai government has agreed to buy a controlling stake in Auckland International Airport, New Zealand's busiest, for as much as $NZ2.6 billion ($2.3 billion).
They need a jump off point for US west coast flights........
Dubai sways board with $2.3b offer for Auckland airport
THE Dubai government has agreed to buy a controlling stake in Auckland International Airport, New Zealand's busiest, for as much as $NZ2.6 billion ($2.3 billion).
They need a jump off point for US west coast flights........
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It is all part of the big worldwide link up for EK, Shk A + TC want a round the world influence. EK need a drop off point for the US west coast, several lawyer types plus other bods have been sniffing around SFO and LAX. So I suppose buying a controlling stake in AUK has to be a great deal for EK. We already have an engineering base there who have been told to get ready for quite a few extra flights as AUS / NZ routes hot up. Watch this space for AUK - SFO or LAX routes to start up, they may be easier to get sorted that trying to organise it in AUS wht a very vocal QANTAS fighting for its stake on the AUS - US routes. 
