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Post by expressflight on Oct 24, 2008 14:40:56 GMT
I'm not sure that Stobarts themselves actually made any comment about SEN. I think it was just the local Carlisle newspaper reporting that it understood they were bidding for SEN. It depends on price I suppose, but in the current economic situation and an even gloomier outlook for the next couple of years I would have thought that SEN might be the better bet.
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Post by pug on Oct 24, 2008 15:48:25 GMT
Dont think HUY has been sold yet.... I think they may have had a good bid though....
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Post by Humberside on Oct 25, 2008 15:16:37 GMT
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Post by pug on Oct 27, 2008 14:58:05 GMT
Ive been thinking if it is Stobarts, would it not just be a ploy akin to the MAG rumour of buying HUY? To get approval for Carlisle airport expansion? They would do the same as MAG, invest just enough to keep it running but allow little to the marketing team letting them struggle to keep routes let alone gain new ones.
Think about it, what do you think the financial incentives would MAG have offered to XL? We know FR was part of a bigger deal... I would worry it the same if Stobarts bought in...
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Post by Humberside on Oct 28, 2008 21:14:14 GMT
What would the government or cumbria county council (whoever decides about Carlisle) gain from Stobart buying HUY? Its not like the Manchester councils will get a boost in the same way that Hull/East Riding/NELC did in 1999
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Post by pug on Oct 28, 2008 21:49:35 GMT
I was more suggesting they may get a portfolio of airports and it may help in any decision on Carlisle Airport. Long shot i know... Personally im holding out for someone experienced with plenty to invest. Fingers crossed.
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Post by aviador on Oct 29, 2008 13:57:31 GMT
The Stobarts had a very aggressive campaign at Carlisle Airport and they failed with their first attempt at expanding the airport into a small scale passenger and cargo operation. I hope the council gives the new owner of Humberside whoever it maybe an easier ride than the council at Carlisle!
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Post by pug on Dec 4, 2008 20:04:46 GMT
No news.... I wonder if somethings fallen through?
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Post by Humberside on Dec 4, 2008 20:42:59 GMT
Look at the SEN forum, these things can take time, lots of time
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Post by pug on Dec 15, 2008 14:26:39 GMT
"Where next for Stobart?
Its next move may be to attempt to acquire Humberside Airport in eastern England from Manchester Airports Group, positioned roughly mid way between Stobart's other two.
To do so would allow Stobart to gain access to another multi-modal operation, as Humberside, also well served by a motorway, is the home to the ports of Hull, Immingham and Grimsby, collectively the UK's largest. Grimsby has acquired the reputation of being Europe's 'food city' in view of the huge frozen food business there (it claims more pizzas are made there than in the whole of Italy).
Small though it is, Humberside is considerably larger than both Southend and Carlisle, and has established passenger services, so that might make it a little too daunting for Stobart Group just now.
Stobart is just one of several European trucking companies said to be investigating expansion of aviation-related facilities."
Also posted on Aviadors site....
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Post by Humberside on Dec 15, 2008 14:54:01 GMT
As interesting as the article maybe, it's just speculation highlighting some of the links between Stobart's wider operations and the Humber area, and how HUY could fit into that
When Stobart bought SEN they had to go to markets and sell more shares to fund it, as well as a loan. Would the markets respond positively to the issuing of even more shares so soon, especially when Stobart's airport operation hasn't had chance to prove to shareholders it is successful? Having a go in the airport sector with SEN, and maybe CAX is one thing, but further investment so soon in another airport when Stobart's airport forray is unproven maybe a gamble too far, especially for cautious investors. And if they could get a loan, would that adversly affect their credit rating too much, considering they have just taken out a £6million one to buy SEN?
And it's not just capital to purchase airports, but development capital too. SEN will need a lot of money spending on it, and we would like to see HUY having some money spent on it too - to expand it will need some money being spent on it.
I'm not an expert on these matters (so if anyone knows Stobarts financial position better please post) but Stobart's arent a huge company, just a famous one. HUY maybe a strategic fit, but that doesnt mean it can be financed
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Post by pug on Dec 15, 2008 15:46:21 GMT
I agree H, i think it would be much better for the chances of HUY growth to see an experienced group buy in. Im not expecting that but hear it is a possibility.
Far as i see it, the place is quite a tight little business. It has first rate air services that are quite well used. There is a busy heliport and local council backing for growth. There is room for more freight.
I believe as the article suggests, it would be biting off more than they can chew at the moment. They have yet to prove their competancy.
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Post by pug on Dec 16, 2008 18:02:36 GMT
Its not for sale. MAG will retain its share.
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Post by watcher72 on Dec 16, 2008 18:47:40 GMT
MAG has opted to retain its share in HUY - no longer for sale.
Press release today!
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Post by john2408 on Dec 16, 2008 20:29:09 GMT
On Ceefax it says" officials cited "positive developments" at the airport and the economic climate for the change of heart,after several offers were made for the airport. North Lincs Council said "it was very good news".
On Teletext the reason given was that Humberside Airport had aquired more business in the last few months.
I like the phrase "positive developments",what can they be,hopefully not to long before they are revealed.
Usual negative comments on DSA forum.
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