Teesside-2
So who has decided the councils would sell their 11%? Makes the end of August 'optimistic'.
Interesting mention of investment in the runway - have a look at Google maps for a view of the investment in his German airport.
Interesting mention of investment in the runway - have a look at Google maps for a view of the investment in his German airport.
So in the article it says the deal will value that the Airport at what was paid in 2019 (£40M), so yet would mean 49% being around £20m.
But in her twitter comment says Flacks is offering the same price paid by Houchen in 2019. So does this mean that Flacks is wanting to buy 49% stake in the airport for £40m?
But in her twitter comment says Flacks is offering the same price paid by Houchen in 2019. So does this mean that Flacks is wanting to buy 49% stake in the airport for £40m?
I agree with N707zs..as always the airport is in the press..usually for the wrong reasons!
Surely if this guy was interested in airport development..DSA. Would be a better investment option…probably get more than 49% ..and cheaper? He has already nailed his colours to the mast saying no to passengers..but yes to freight!
Something strange going on.
He’s already bought brownfield land next to the airport…as always an uncertain time for TIA !
I’m sure the mayor will,explain all this week..l
Surely if this guy was interested in airport development..DSA. Would be a better investment option…probably get more than 49% ..and cheaper? He has already nailed his colours to the mast saying no to passengers..but yes to freight!
Something strange going on.
He’s already bought brownfield land next to the airport…as always an uncertain time for TIA !
I’m sure the mayor will,explain all this week..l
The value of DSA is considerably higher than Teesside, Add to that Peel have absolutely no interest in selling it. Why would they when they can get a naive Council to pay millions to lease it from them and have the chance to redevelop the site should the airport fail which is a distinct possibility given its history….
I didn't trust this one bit so I've checked and can confirm it's a straight forward 75%/25% split between the TVCA and Foundation, no council involvement
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If we are to believe Houchen that the airport plan is ahead and looking to make a profit within 3 years. Why is any part of it for sale.
Mr Flacks specialises in debt laden companies, he bought the bankrupt German airport with similar intentions and that appears to be just a solar farm now,
If Flacks buys 49% will he also inherit all the loans as well, ?
For sure this negotiations have been going on for months,so why is Houchen talking about an investment when it appears as a sellout, you can be sure Flacks will require overall control, he is only it in for the money and has no interest in how the airport services the local population, he operates out of Luxembourg and lives in Monaco and is one shrewd businessman, so they'll be changes if this goes ahead , or is it all hot air ??????
Mr Flacks specialises in debt laden companies, he bought the bankrupt German airport with similar intentions and that appears to be just a solar farm now,
If Flacks buys 49% will he also inherit all the loans as well, ?
For sure this negotiations have been going on for months,so why is Houchen talking about an investment when it appears as a sellout, you can be sure Flacks will require overall control, he is only it in for the money and has no interest in how the airport services the local population, he operates out of Luxembourg and lives in Monaco and is one shrewd businessman, so they'll be changes if this goes ahead , or is it all hot air ??????
Goosepool is the 75/25 split.
Goosepool is 89% owner of Airport.
Council own 11% of Airport.
But like Grumpy has shouted many times before you can't see the financials/ transparency etc because of the way the ownership structure, because the Foundation owns 25% of the Airport when it doesn't. So if you wanted to break down the ownership structure, the Foundation share would only be worth 22.75% of the entire structure to put it in a way.
Goosepool is 89% owner of Airport.
Council own 11% of Airport.
But like Grumpy has shouted many times before you can't see the financials/ transparency etc because of the way the ownership structure, because the Foundation owns 25% of the Airport when it doesn't. So if you wanted to break down the ownership structure, the Foundation share would only be worth 22.75% of the entire structure to put it in a way.
Looks like a day of chaos for Eastern on the Amsterdam schedules today.
KL962/963/966/967 cancelled. E190 AOG on Teesside with a E170 flying in for a very delayed KL964 and not too shabby delay on KL965. The E170 is stepping in to run a very delayed KL957/KL958 to/from Newcastle also.
KL962/963/966/967 cancelled. E190 AOG on Teesside with a E170 flying in for a very delayed KL964 and not too shabby delay on KL965. The E170 is stepping in to run a very delayed KL957/KL958 to/from Newcastle also.
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Yes I read that in the Gazette, Houchen saying nothing is for sale and nothing will change and Flacks saying the 49% purchase will be concluded in August, can't both be correct . So what's going on ????
I would guess Houchen is correct for now. If a deal is in the bag and ready to conclude in 3 months, then we're saying Houchen is outright lying which is unlikely.
However, one caveat, by saying we're not for sale and standing firm, that could drive the buyer to increase the offer and I'm sure everything has a price.....
However, one caveat, by saying we're not for sale and standing firm, that could drive the buyer to increase the offer and I'm sure everything has a price.....
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It's not likely that Houchen is lying so shortly after his re-election, it would be the end of his political career, but it does appear that he has a plan, and is this simply...."make me an offer I can refuse"..........makes him appear the hero...but on the other hand why is Flacks announcing future plans. What's going on ,?
Is there any connection with Flacks having bought the old Elementis site which is close to the airport
Is there any connection with Flacks having bought the old Elementis site which is close to the airport
Busy Weekend
Looks like a "busy" weekend this weekend, particularly Sunday. All relative of course (compared to other airports).
Saturday sees the return of the weekend TOM rotation to Palma.
On Sunday, Smartwings will be doing 2 x runs to Lourdes for the annual trip. Bourgas restarts on Sunday with BH plus the 3 x usual FR rotations on Sunday.
Dalaman kicks off on Tuesday with Freebird.
Saturday sees the return of the weekend TOM rotation to Palma.
On Sunday, Smartwings will be doing 2 x runs to Lourdes for the annual trip. Bourgas restarts on Sunday with BH plus the 3 x usual FR rotations on Sunday.
Dalaman kicks off on Tuesday with Freebird.