fcogafa
Topic Author
Posts: 865
Joined: Fri May 16, 2008 4:37 pm

EDI Airport Sold To GIP

Mon Apr 23, 2012 11:42 am

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]
 
Damian
Posts: 213
Joined: Mon Apr 25, 2005 8:01 pm

RE: EDI Airport Sold To GIP

Mon Apr 23, 2012 12:19 pm

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.
 
steve6666
Posts: 442
Joined: Thu Sep 04, 2003 1:58 am

RE: EDI Airport Sold To GIP

Mon Apr 23, 2012 5:39 pm

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.
eu nasci ha dez mil anos atras, e nao tem nada nesse mundo que eu nao saiba demais
 
bennett123
Posts: 7441
Joined: Sun Aug 15, 2004 12:49 am

RE: EDI Airport Sold To GIP

Mon Apr 23, 2012 8:21 pm

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?.
 
LH121GLA
Posts: 342
Joined: Sat May 01, 2004 5:42 pm

RE: EDI Airport Sold To GIP

Mon Apr 23, 2012 9:06 pm

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.
 
bennett123
Posts: 7441
Joined: Sun Aug 15, 2004 12:49 am

RE: EDI Airport Sold To GIP

Mon Apr 23, 2012 9:36 pm

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

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