It has been annouced today in the papers that shareholders of the TBI Group which owns Luton Airport along with Cardiff, Belfast International, Orlando Sanford and Stockholm Skavsta want the company spliting up and potentially leaves other airport operators to come along and purchase these airports on an individual basis.
With Luton growing at such a phenominal rate in recent months (has grown 9% in the last quarter) and with many new routes to be launched in the coming months this could potentially take passenger numbers up to 9 -10 million by the end of 2005. This will leave many operators interested. I am wondering if the Manchester Airport Group or possibly BAA would be interested in taking it over.
What do you think?
On a seperate note the TBI group made a quarterly trading announcement yesterday and indicated there is going to be major expansion to the terminal. - Anyone have any details of this?
"Overall passenger numbers at London Luton increased by 9% during the six months to 30 September 2004. Both easyJet and Ryanair announced significant expansion of their respective services out of Luton in July. easyJet will increase its capacity by 25% adding three new aircraft and Ryanair has committed four new aircraft and nine new routes to this location. This additional traffic has not yet started and accordingly whilst such growth in low cost traffic volumes is clearly encouraging, the benefit of any extra revenue is not expected to impact in the current year.
An extensive expansion programme at London Luton has now commenced. Due to complete in July 2005, this involves a significant capital investment in the facilities at the airport, which will deliver a new security hall to the first floor of the existing terminal building and a new airside facility to handle all passengers travelling through the airport. The new airside facility will be some 9,000 sqm – and will almost treble the retail and catering space. In addition, there will be a new walkway and exits, a new immigration hall, new arrivals and onward travel area and additional ramp and gates."
News from Reuters http://www.reuters.co.uk/newsPackageArticle.jhtml?type=stocksAndSharesNews&storyID=599172&src=eDialog/GetContent§ion=finance
TBI Trading Statement (Requires Microsoft Word) - http://www.tbiplc.co.uk/viewNews.asp?section=news&newsID=73