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Topic: EDI Airport Sold To GIP
Username: fcogafa
Posted 2012-04-23 04:42:39 and read 2446 times.

BBC are reporting that Turnhouse hase been sold to the owners of LGW, GIP for 800m pounds. Interestingly, it says that the GIP method is to resell their purchases after about 7 years. I wonder if that goes for Gatwick too?

http://www.bbc.co.uk/news/uk-scotland-scotland-business-17814024

[Edited 2012-04-23 04:43:22]

Topic: RE: EDI Airport Sold To GIP
Username: damian
Posted 2012-04-23 05:19:54 and read 2329 times.

Fantastic news for EDI.

If they can address some of the operational constraints of the airport, such as the ridiculous arrivals corridor set-up on the international pier, plus expand the check-in space and build up the south east pier into something much better, then it'll all be worth it. Expansion of routes will also add value, especially if they can secure that Middle East hub flight that has so far eluded EDI.

GIP may only aim to be there for seven years, but it'll be a good seven years if they can turn the airport round and take its value over the £1bn mark.

Topic: RE: EDI Airport Sold To GIP
Username: steve6666
Posted 2012-04-23 10:39:17 and read 1964 times.

Quoting fcogafa (Thread starter):
Interestingly, it says that the GIP method is to resell their purchases after about 7 years. I wonder if that goes for Gatwick too?

They are basically private equity investors so seven years for an infrastructure asset is entirely reasonable. They aren't going to sit on it paying a dividend to public investors indefinitely is effectively what this is saying.

Topic: RE: EDI Airport Sold To GIP
Username: bennett123
Posted 2012-04-23 13:21:32 and read 1749 times.

Given that they own LGW, LCY and now EDI, it does seem that HMG regard a single operator operating multiple airports as less of an issue than formerly.

What about STN?.

Topic: RE: EDI Airport Sold To GIP
Username: LH121GLA
Posted 2012-04-23 14:06:51 and read 1691 times.

Quoting bennett123 (Reply 3):
Given that they own LGW, LCY and now EDI, it does seem that HMG regard a single operator operating multiple airports as less of an issue than formerly.

I think the issue with BAA was the proximity of airports that they owned - not the number of airports.

Topic: RE: EDI Airport Sold To GIP
Username: bennett123
Posted 2012-04-23 14:36:45 and read 1639 times.

If GIP get STN as well, then it the same issues would arise.


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