BrianDromey From Ireland, joined Dec 2006, 3920 posts, RR: 9
Reply 2, posted (5 years 9 months 2 weeks 5 days 19 hours ago) and read 3321 times:
Quoting Revelation (Reply 1): If I were BAA, I'd be pissed. It was the government that set up BAA and sold it to Ferrovial, and now it's the government telling them they can't keep them.
I thought the BAA was privatised by floating it on the LSE, quite a while back under Thatcher? Ferroval only purchased BAA recently and certainly not directly from the government. I think the number of meldowns and airline complaints that made the Mergers and Monopolies board have a look at BAA.
Next flights: MAN-ORK-LHR(EI)-MAN(BD); MAN-LHR(BD)-ORK (EI); DUB-ZRH-LAX (LX) LAX-YYZ (AC) YYZ-YHZ-LHR(AC)-DUB(BD)
Bongodog1964 From United Kingdom, joined Oct 2006, 3602 posts, RR: 3
Reply 4, posted (5 years 9 months 2 weeks 5 days 17 hours ago) and read 3179 times:
Ferrovial were warned by the regulators prior to purchasing BAA, that they shouldn't expect any leniency, particularly over the level of debt they were incurring.
If this report becomes law, Ferrovial will be left holding 3 airports bought when prices were high, which they will need to sell off in a depressed market. At this point the folly of paying over the odds for BAA might finally dawn on them.
Gpbcroppers63 From Ireland, joined Jan 2008, 520 posts, RR: 0
Reply 8, posted (5 years 9 months 2 weeks 5 days 14 hours ago) and read 2800 times:
Quoting Bongodog1964 (Reply 7): Ferrovial's idea of a fair price, is probably a little more than the free return trip to Dublin, with priority boarding and a complimentary cup of coffee that Ryanair offered
Hang on. That sounds nothing like Ryanair. Their offer would be a free flight to Dublin but then Ferrovial have to pay taxes, fees, credit card charge, and the coffee most certainly would not be free . I do love Ryanair though as I've just paid €28 all in for a return from SNN-STN next February and I consider that quite expensive for them
[Edited 2008-12-17 09:45:33]
According to one of my colleagues, my problem is that I'm addicted to travel!
AirbusA6 From United Kingdom, joined Apr 2005, 2013 posts, RR: 0
Reply 9, posted (5 years 9 months 2 weeks 5 days 11 hours ago) and read 2605 times:
But if Ryanair owned the airport, who would they be able to complain about?
"Those Ryanair f888ers are really screwing us over their landing charges, we're moving to Easywick instead"
It's unfortunate timing, as the credit crunch will restrict availability of finance, when compared with a year or 2 ago, when private equity was awash with cash for such ventures. After all, where did Ferrovial get the cash to buy BAA in the first place
it's the bus to stansted (now renamed national express a4 to ruin my username)