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Post by LEWIS on Sept 9, 2008 7:25:05 GMT
I am not sure there is a real parallel. Belfast is already an established commercial airport. Routes and airlines already operating. Infrastructure in place. Southend represents a much different situation. It needs the investment to get to a stage where they can realistically operate commercial flights on a larger scale. I think Expressflight hit the nail on he head yesterday. RAL will probably want to ensure the winners are in a position to invest not just ourchase.  |
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Post by Thames Gateway on Sept 15, 2008 6:19:18 GMT
Oh Dear! AIG group is expected to be in some difficulties quite soon. Does this mean City itself might be sold off??
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Post by expressflight on Sept 15, 2008 6:40:00 GMT
One may well ask.
With AIG seeking a 40 billion dollar (yes billion!) loan facility from the US Federal Reserve to solve an alleged liquidity crisis it's hard to imagine they will countenance spending money on buying SEN. The fact that Lehman Brothers have also decided to file for bankruptcy protection overnight is likely to deepen further the credit crunch.
Having said that, the financial world works in mysterious ways so who knows what effect that may have.
The only good news is that the oil price has dropped 2 dollars this morning in Far East trading to 99 dollars.
I feel that if I were in Andrew Walters' shoes I would be grabbing with both hands any offer that is still on the table.
I've tried again over the weekend to find out WTHIH regarding the sale, so far without success.
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Post by SENtence on Sept 15, 2008 9:33:20 GMT
Surely there must now be significant doubt as to whether the bid by the LCY consortium is still 'in play'. As highlighted in previous posts, AIG seem to be in real trouble and there is no way that I can see that they will be in a position to justify spending money to buy and develop SEN, when they are having to go to the Fed' for a 40 billion dollar loan facility. Maybe the delay in making any announcements has been precisely because the preferred bidder has been LCY, but they have been unable to give any financial guarantees.
If LCY do drop out, who is left - I know there were rumours of the Rueben Brothers and Albertis, but I wonder if they will still be prepared to pay the original asking price given the current financial climate ?
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Post by expressflight on Sept 15, 2008 10:09:42 GMT
I certainly haven't heard any rumours myself concerning the Reuben Brothers or Albertis being one of the final bidders. Do you have a source for that?
As far as the price is concerned just ask yourself: would you offer as much now as you would have done six months ago?
I fear that this thread could soon be debating 'Where does SEN go now that the sale process has been abandoned.' although I sincerely hope not.
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Post by expressflight on Sept 15, 2008 14:33:55 GMT
Well, I understand from information received this afternoon that we won't be debating the failure of the sale process just yet at least.
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Post by SENtence on Sept 15, 2008 14:38:36 GMT
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Post by Sentence on Sept 16, 2008 9:13:10 GMT
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Post by southendobserver on Sept 16, 2008 16:52:02 GMT
At least Alastair Welch has admitted that the current economic situation is causing the delay. I fear it could be a lot longer before we know who is the successful bidder. Interesting that the Echo is now talking about a 50 million sale price, I wonder where hey got that figure from.
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Post by roche on Sept 16, 2008 22:46:07 GMT
Having read the full Echo newspaper article mentioned in the earlier post by Sentence, I get the impression that it may still be a while before we hear any news re the proposed sale. A quote from Alistair Welch suggests that they may not yet have a buyer.
Hope I'm totally wrong (I usually am), but the prospect of sale seems a good way off, if it happens at all.
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Post by expressflight on Sept 17, 2008 6:25:56 GMT
The phrase that he used to me on Monday was "in due course" so you may well be correct in your thinking. All I can say is that he is confident that the aim will be achieved ..... in due course!
At least AIG Group has been saved from collapse by the US government, who are making an USD85 billion loan in return for taking an 80% stake in the shareholding of AIG. Effectively a temporary nationalisation of the firm on the lines of Northern Rock in the UK. Whether this will mean business as usual at AIG or will be linked to a retrenchment of their activities is impossible to say. If the former then perhaps they have been marking time on the SEN bid and will now move ahead, but that's probably an optimistic view which also assumes that the LCY bid is the favoured one and I have no idea on that either.
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Post by Lewis on Sept 17, 2008 11:07:37 GMT
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Post by expressflight on Sept 17, 2008 13:11:21 GMT
Did the full story in the Echo contain anything new regarding the sale?
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Post by Thames Gateway on Sept 17, 2008 21:10:26 GMT
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Post by roche on Sept 17, 2008 21:51:47 GMT
Why couldn't they just interview ordinary members of the public rather than 'Friends of the Earth' representatives? How many people do 'Friends of the Earth' actually represent...not many I suspect and of course they're going to be anti airport - in fact if they had their way, the airport would be closed down completely.
Interesting comment by the reporter at the end of the report when he stated that he understood that the airport would be sold sometime within the next 6 weeks. I wonder why it may take up to 6 weeks to sort out.
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