Infratil says it is still trying to sell two airports in Britain, despite passenger numbers improving. The company has been trying to sell Glasgow Prestwick and Kent International airports, which last year lost $10 million, for more than a year. Latest figures show passenger numbers at Glasgow increased 14% in May with more than 118,000 passengers passing through, and the …Read More »
The plunging value of for-sale Prestwick airport contributed to a nose dive in its New Zealand owners’ profits, Infratil reported today. The firm said the Ayrshire airport and its sister at Manston in Kent were now together worth £11.4 million compared to £38 million a year ago. They had been valued at £44m in 2011. Infratil said the write-down had …Read More »
In the hope of finding why KCC are peeing our money away, we’ve asked Sharon Dawson (top banana at Visit Kent) some simple and obvious questions. We’ll let you know what, if anything, comes of them. Dear Ms Dawson, I understand that Visit Kent has been given £100,000 of public money in order to ‘market’ KLM flights at Manston. My …Read More »
Manston and Prestwick have proved hard to sell. Unsurprisingly. Infratil wants to sell them because they’re failures – and that’s why they’re hard to sell. Infratil has been losing millions every year, for years, and they’re eager to staunch the flow. The penny seems to have dropped that these two failed airports would be easier to sell… if they weren’t …Read More »
Two minds with but a single thought Iain Cochrane, chief executive of Glasgow Prestwick Airport: I believe this is an excellent opportunity for us to attract new investment into the airport to provide the stimulus for future growth. STV 8th March 2012 Charles Buchanan, chief executive of Manston Airport: This represents an opportunity for Manston to … attract new investment …Read More »
Manston Airport has been put up for sale. Bosses at Kent International Airport told staff at 10.30am yesterday (Friday) morning. The shock decision was made by owners Infratil. The New Zealand-based company also plans to sell its airport at Prestwick near Glasgow.Read More »
This has been on the cards for a couple of months now. Infratil has been under increasing pressure from major share-holders in New Zealand to stop wasting time and money on the wrong side of the world.
Struggling Prestwick is almost completely dependent on a single commercially ruthless customer - a foolish and vulnerable position to have got into. When 98% of your business comes from one customer, that customer can call the shots - you've lost control of your business.
Barely struggling Manston has developed a pattern of attracting flakey customers, and has now stumbled, flat-footed, into the glare of international disapproval as a result of some particularly foolish greed.
It's not surprising that the Kiwis should want to crystallise their losses, and get home. TDC would then, of course, have to rifle through Brian White's old filing cabinets looking for a very slim folder labelled "Plan B".
The time and effort spent fussing over Manston's life support sysytem would be far better spent researching and launching a viable and sustainable "economic and social engine".Read More »
CEO confirms: Prestwick for the chop
Well, Dear Reader, you can tell your grandchildren that you read it here before you read it on Bloomberg!
Infratil's Supreme Commander has gone on record in an interview with Bloomberg telling the world that Prestwick doesn't have a long-term future in Infratil's portfolio, because it "isn't performing".Read More »
BAA airport sale squeezes Prestwick
Have you ever had one of those weeks when things just seem to go from bad to worse? If so, you'll be able to empathise with Infratil.
In response to the general downturn and gloom, the bucket shops are reducing capacity and cutting routes. Flybe, the mainstay of Manston's struggling passenger business, is on the ropes and cutting routes that are busier than the infrequent services out of Manston - which doesn't bode well.
And now, to cap it all, BAA (easily the largest airport operator in the country) is moving the goal posts and increasing the competitive pressure on Prestwick, Infratil's busiest airport outside New Zealand.Read More »
Prestwick Airport passenger numbers fall
Prestwick Airport saw a drop of nearly 20% in passenger numbers in July, compared with the same month last year. Infratil, the Ayrshire airport's owners said there were 37,800 fewer passengers during the crucial first month of the school summer holidays.
New Zealand-based Infratil said the July passenger numbers fell from 194,500 last year to 156,700 this year. In recent years, the number of passengers at Prestwick topped 230,000 during the month in both 2007 and 2008.Read More »