Herne Bay Matters
Infratil’s results are out, and they don’t make happy reading for Manston, or Prestwick. I’m not an accountant, but the table of numbers doesn’t look pretty – click it to big it.
INFRATIL AIRPORTS EUROPE
Infratil’s two remaining European airports continued to experience very difficult trading conditions. Notwithstanding excellent cost control, losses grew as traffic continued to weaken.
The airports in Glasgow and Kent represent 4% of Infratil’s assets and contributed an EBITDAF loss of £5 million (NZ$10 million) for the year.
Management is very aware of this disproportionate value/contribution aspect and the situation is receiving the urgent attention it warrants.
There are several solutions possible, but regrettably the preferred one, an improving European aviation scene lifting activity and hence income, seems the least likely.
;)
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Didn't Infratil inform everyone that they would be breaking even in three years when they took over the airport.
People have been making absurd forecasts from the very beginning – I shall put them all in one place for your delectation.