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Tag Archives: Prestwick

Infratil aims to offload loss-making UK airports

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 …

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Airports write-down lead to Infratil profits plunge

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 …

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Game-changer – Manston to stop being an airport

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 …

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No sign of Prestwick airport sale

The New Zealand company which owns Prestwick has said there is no sign of a buyer for the airport, and its value has fallen. Infratil put its two UK airports, which include Kent, up for sale in March this year. However it said the sales process for both had been “unsuccessful to date”. As a result, Infratil said it had …

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Infratil Airports Europe; right ingredients wrong outcome

Infratil’s assessment of their European airports, in their own words… In the 1990s Australia and New Zealand were amongst the first countries to sell state-owned airports and to allow their commercial operation. The resulting value uplift encouraged Australasian investors to look at markets where similar developments were occurring, which led to Europe. Infratil invested in Prestwick, Kent and Lübeck airports …

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Infratil is selling Manston, but wants to buy Stansted. Why?

In March 2012, Infratil announced that Manston was up for sale because it wanted to “refocus its investment profile” and concentrate on retail, production and supplying gas and electricity. What they didn’t mention in their press releases was that Manston had lost them money hand over fist ever since they bought it. In the previous couple of years Infratil had …

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Rival group enters battle for Stansted airport

A consortium led by an Australasian investment manager has emerged as an early rival to Manchester Airports Group in the £1bn battle for Stansted airport. Morrison & Co, which operates out of New Zealand, Australia and Hong Kong, is heading a bid team that also includes the New Zealand Superannuation Fund and Infratil, a Wellington-based infrastructure investor. Stansted was finally …

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Night Flights vote – press coverage

Vote against Manston Airport night flights plan BBC 25th May 2012 Plans for night flights from Manston Airport in Kent have been opposed by Thanet District Council. At a meeting on Thursday, the Labour-controlled council voted against all night flights to or from the airport. Charles Buchanan, the airport’s chief executive, said: “We are disappointed the council is not supporting …

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Airport CEOs upbeat

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 …

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