The press release below show that the expansion is going to restart in earnest - great for Weru Windows and other installers of triple glazing - less good for the residents of our hitherto quiet town. Judging from the comments from the council they are not going to meet much official resistance to this expansion.
Meanwhile: "Ryanair has currently hedged oil prices at US$68 per barrel, but this is set to expire, leaving the no-frills airline paying full market prices. "Our hedging finishes next week and we go from about $70 to about $100. Next year's fuel bill is going up by €400m. We only have around 10% hedged in the high $70s for next year and I wouldn't be hedging now. We'll take our chances in the markets," explained O'Leary."
"According to a report , almost half of us have scrapped spending plans because of the economic climate. One family in five has delayed its annual holiday and a tenth of Britons have held back on buying a new car."
I suppose they could always turn it into a rail terminal, or get Kensington to build some houses on it?
Pity that ROAR don't seem to have any web presence these days - have they gone down the pan?
BALFOUR BEATTY ACQUIRES BLACKPOOL INTERNATIONAL AIRPORT FOR £14 MILLION
Balfour Beatty, the international engineering, construction, services and investment group, announces today that Regional and City Airports (RCA), its specialist airport investment and development group, has agreed to acquire 95% of Blackpool International Airport for £14 million in cash. The airport is being sold by Mar Properties, a large Northern Ireland-based property developer, and the transaction is subject to receiving the approval of the remaining minority shareholder, Blackpool Borough Council. The Council is supportive of the transaction, and this approval is expected to be received by 9 May 2008.
Blackpool International Airport is situated one mile south of Blackpool town centre and has excellent road and rail links which provide fast access to the North West. Its current key customers include Jet2.com, Ryanair and Manx2.com and it provides an established base to a range of other air carriers and related aeronautical businesses. The airport is forecast to handle about half a million passengers in 2008, flying 12 routes to the UK, Ireland, Isle of Man and mainland European destinations.
Commenting today, Balfour Beatty Chief Executive, Ian Tyler, said:
"Blackpool International is a well-located airport with the potential to become a thriving international gateway to Lancashire and Cumbria. We will work together with the airlines and our local partners to help increase its penetration within this core catchment area and to play its part in attracting inbound visitors to the region. We believe that our approach will deliver significant, sustained growth in passenger traffic at the airport and will generate important economic benefits for it and for Blackpool. Our aim is to develop Blackpool to be the airport of choice for residents, businesses and visitors of Lancashire and Cumbria."
Cllr Peter Callow, Leader, Blackpool Council, which owns a 5% stake in the airport, said:
"This is absolutely great news for Blackpool. The Airport has developed rapidly in recent years and I am confident that Balfour Beatty will be able to take it to an even higher level. I know that they have very exciting plans for the future which will see expansion of both flights and facilities. Clearly they have the contacts and capacity to deliver these aspirations which should mean growth for the whole area and more jobs for local people."
RCA acquired Exeter International Airport for £60 million in January 2007. Data from the Civil Aviation Authority (CAA) shows that Exeter is one of the fastest growing airports in the UK and the strongest growing airport in the South West, handling just over one million arriving and departing passengers in 2007.
Balfour Beatty Capital is an experienced investor in infrastructure, having raised over £7 billion of funding for its 30 privately-financed projects in which it has over £250 million of committed and invested equity.
Balfour Beatty also has a successful track record in airport infrastructure development. Its professional and technical services division has played a key role in the development programmes at Heathrow, Gatwick and the BAA Scottish Airports. Its construction and services subsidiaries have undertaken major airport projects at Heathrow, Gatwick, Stansted, Glasgow, Edinburgh, Hong Kong, Dubai and Miami.
ENDS
Enquiries to:
Tim Sharp
Tel: 020 7216 6884
www.balfourbeatty.comNotes to Editors
1. Balfour Beatty has a substantial existing investment portfolio, largely through the UK PPP/PFI programme. This portfolio consists of:-
* nine major hospitals
* seven major schools schemes in the UK and a technical education PPP in Singapore
* five road and three street lighting projects
* the London Underground power system
* a waste water scheme
* a coastal defence pathfinder PPP
* Barking Power Station (non-PPP)
* Exeter International Airport (non-PPP).
2. Balfour Beatty Capital develops, owns and operates privately-financed infrastructure projects. It is one of the largest UK private sector infrastructure investors and has a broad range of skills from project promotion and development through to financing, project execution and long-term asset management and operations.
3.Balfour Beatty is a world-class engineering, construction, services and investment business, well-positioned in infrastructure markets which offer significant long-term growth. We work in partnership with sophisticated customers who value the highest levels of quality, safety and technical expertise. Our skills are applied in appropriate combinations to meet individual customer need. Balfour Beatty's financial position, with a strong balance sheet and operating cash flows, offers continuing flexibility to add additional capacity and expertise to the business mix and to make appropriate investments in PPP and other long-term growth opportunities.
