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Well I dont really know if this is good news or bad news for the North East Aviation enthuisists but it looks like the For Sale sign will be going up at Newcastle Int'l Airport very shortly if its current owners have anything to say about it. This artical has appeared in todays daily email update from the Travel Trade Gazzet.
Source: http://ttg.ubm-info.com/c/1GE0FQOl7P9kprut2uP
Anyone like to buy??
Source: http://ttg.ubm-info.com/c/1GE0FQOl7P9kprut2uP
Newcastle airport 'to be put up for sale'
Monday, April 18, 2011
Chris Gray
Newcastle airport is being put up for sale as the local authorities that own it try to reduce debts, according to a report.
Seven councils, which own 51% of the airport, have appointed KPMG to advise them ahead of a 2013 deadline to repay a £320m loan, according to the Sunday Times.
Newcastle airport could not be reached for comment this morning. But the paper claimed that accounts for the firm that controls the councils’ stake was £4.2m in the red in 2009 after paying our almost £22m in interest.
The councils are said to need a new equity investor to put cash into the business or they will have to sell their own stake.
The authorities are Durham, Gateshead, City of Newcastle, North Tyneside, Northumberland, South Tyneside and City of Sunderland.
Anyone like to buy??