Biggin Hill (EGKB)
Joined: Jun 2009
Posts: 552
Likes: 7
From: UK
I'm not sure Biggin needs galvanising. It is a specialist business aviation airport and as such is doing very well.
As for AW's achievements at SEN he spent a reported £100m on developing an airport to attract a handful of easyJet aircraft delivering £100k in EBITDA profits in year 1. On that performance Stobart's can expect a payback in around a 1,000 years! No doubt the easyJet sweetheart deal that brought them in is contributing to the paltry profits but who signed it off?
Behind the scenes the airport has failed to attract new tenants and has seen established tenants leave.
All hail the messiah Alistair Welch.
As for AW's achievements at SEN he spent a reported £100m on developing an airport to attract a handful of easyJet aircraft delivering £100k in EBITDA profits in year 1. On that performance Stobart's can expect a payback in around a 1,000 years! No doubt the easyJet sweetheart deal that brought them in is contributing to the paltry profits but who signed it off?
Behind the scenes the airport has failed to attract new tenants and has seen established tenants leave.
All hail the messiah Alistair Welch.
Joined: Jul 2006
Posts: 2,794
Likes: 42
From: UK
I'm really surprised that your understanding of the achievements at SEN is so lacking asdf1234. The figures you 'quote' merely underline this. Would you really expect the regeneration of the facility to result in large operating profits in the first year?
You could at least have spelt his name correctly when expressing your obvious enmity towards him.
You could at least have spelt his name correctly when expressing your obvious enmity towards him.
Last edited by Expressflight; 28th July 2013 at 07:08.
Joined: Jun 2009
Posts: 552
Likes: 7
From: UK
Back to the original poster
I'm conscious that this is a Biggin Hill forum and I my original intention was to tease out the name of the MD that Great Charmer has alluded to. So I might as well ask the direct question, "Great Charmer, what name was it that you heard in connection with the MD's job at Biggin Hill?"
[ For the SEN thread if the mods want to move it: I think my understanding of the figures is better than others that post on here. The profit made my be impaired by certain one-off costs that the airport will not see again next year but the vast majority of infrastructure and start-up costs will be either amortised over the long term or accrued for over the medium term in line with the income projections from the EasyJet agreement, and as such do not affect the EBITDA results that Stobart released.
I think the figures were significantly poorer than expected and that is why Stobart decided to up their passenger forecasts from 2m pax per annum (almost no chance of a payback on investment in the next 500 years) to 5m pax per annum (a slightly better chance of a payback in the next 25 - 50 years).
Until the airport gets some new year-round based aircraft they will be forever reliant on the easyJet contract which will likely have a 90 day termination clause in it somewhere. Loco's don't pay a lot to be at airports - if they pay at all. The airport has to derive their income from car parking and concessions in the terminal building. Maybe the new extension once opened will have more in the way of quality concessions to raise income levels.
[ For the SEN thread if the mods want to move it: I think my understanding of the figures is better than others that post on here. The profit made my be impaired by certain one-off costs that the airport will not see again next year but the vast majority of infrastructure and start-up costs will be either amortised over the long term or accrued for over the medium term in line with the income projections from the EasyJet agreement, and as such do not affect the EBITDA results that Stobart released.
I think the figures were significantly poorer than expected and that is why Stobart decided to up their passenger forecasts from 2m pax per annum (almost no chance of a payback on investment in the next 500 years) to 5m pax per annum (a slightly better chance of a payback in the next 25 - 50 years).
Until the airport gets some new year-round based aircraft they will be forever reliant on the easyJet contract which will likely have a 90 day termination clause in it somewhere. Loco's don't pay a lot to be at airports - if they pay at all. The airport has to derive their income from car parking and concessions in the terminal building. Maybe the new extension once opened will have more in the way of quality concessions to raise income levels.
Joined: Jun 2009
Posts: 552
Likes: 7
From: UK
New MD
I wonder what happened for Jenny Munro to leave?
Good luck to Will Curtis. He has been at the airfield for a number of years and was at the helm for the building and opening of the fabulous Rizon Jet facility.
Good luck to Will Curtis. He has been at the airfield for a number of years and was at the helm for the building and opening of the fabulous Rizon Jet facility.
