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Post by flyer on Nov 25, 2022 14:25:18 GMT
Apparently ATC staff to be made redundant on 2nd December, which looks to me like the airport will be closing on 3rd December. If this is true it would appear that Peel are pretty confident that the legal applications by DMBC for a Judical Review and an injunction to stop asset stripping will be thrown out. Closure on or around that date sounds correct unless the Court intervenes. The DMBC Mayor has spoken of an agreement with Peel to keep open until the end of this month so Peel will be planning to cut their losses very swiftly after that. According to the BBC report,as of Tuesday's hearing, Peel say there is no viable bid. If they believed one was truely in development why would they have not said they would voluntarily allow more time. Peel clearly believe what the Council has put forward as credible is not credible. Peel are the vendor so they decide. Is it that they just don't want to sell? I doubt it - hard headed business people like Peel would not turn down an offer that fully met their expectations of the true value and potential of their property.
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Post by pug on Nov 25, 2022 15:02:52 GMT
Apparently ATC staff to be made redundant on 2nd December, which looks to me like the airport will be closing on 3rd December. If this is true it would appear that Peel are pretty confident that the legal applications by DMBC for a Judical Review and an injunction to stop asset stripping will be thrown out. Closure on or around that date sounds correct unless the Court intervenes. The DMBC Mayor has spoken of an agreement with Peel to keep open until the end of this month so Peel will be planning to cut their losses very swiftly after that. According to the BBC report,as of Tuesday's hearing, Peel say there is no viable bid. If they believed one was truely in development why would they have not said they would voluntarily allow more time. Peel clearly believe what the Council has put forward as credible is not credible. Peel are the vendor so they decide. Is it that they just don't want to sell? I doubt it - hard headed business people like Peel would not turn down an offer that fully met their expectations of the true value and potential of their property. Agreed, and DMBC are going to have to tread very carefully here as things could get costly; www.placenorthwest.co.uk/bolton-ordered-to-pay-peels-hulton-park-appeal-costs/
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Post by pug on Nov 29, 2022 23:51:00 GMT
A typically well informed source elsewhere suggests that Peel have provisionally accepted an offer on the airport. Not confirmed and subject to due diligence. Interesting to see what transpires.
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Post by flyer on Nov 30, 2022 7:41:44 GMT
A typically well informed source elsewhere suggests that Peel have provisionally accepted an offer on the airport. Not confirmed and subject to due diligence. Interesting to see what transpires. Could explain lack of decision from Court after 8 days- have DMBC withdrawn? Would an injunction to halt closure by today not have merited a swift decision one way or another??? Just speculating !
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Post by pug on Nov 30, 2022 8:07:16 GMT
A typically well informed source elsewhere suggests that Peel have provisionally accepted an offer on the airport. Not confirmed and subject to due diligence. Interesting to see what transpires. Could explain lack of decision from Court after 8 days- have DMBC withdrawn? Would an injunction to halt closure by today not have merited a swift decision one way or another??? Just speculating ! Could be a number of things, it is strange that there has been no court decision yet.. Perhaps Peel have agreed in principle to avoid the ongoing legal process, after all despite what we might think of them they will be aware of their social responsibilities and i suspect they do care. In that case it could go either way still. I think if it is true, and a formal sale is agreed, then the success of any new owner will be reliant on expertise, specifically in the U.K. aviation market. Let’s not forget that Vantage quickly offloaded it, so people hoping for a saviour should be very careful what they wish for. Any Arabian consortium with lots of money could buy it, but they also wouldn’t be afraid to churn up the runway when it fails to perform as expected, and they’d probably do this much quicker than Peel or any other U.K. based owner would do. Of course it could actually be a credible offer from a completely different organisation (I have heard rumours that two major U.K. airport operators have taken an interest), in which case that would be the best case scenario for the airport. Of course, Peel could be leaking rumours themselves to try to influence any legal challenges by DMBC only for talks to fail at the 11th hour. Let’s face it, it really isn’t a financial success, pretty much a basket case to date, so any due diligence would uncover this anyway (assuming Peel haven’t actively priced themselves out of the market) so this is not over yet.
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Post by flyer on Nov 30, 2022 9:08:36 GMT
Could explain lack of decision from Court after 8 days- have DMBC withdrawn? Would an injunction to halt closure by today not have merited a swift decision one way or another??? Just speculating ! Could be a number of things, it is strange that there has been no court decision yet.. Perhaps Peel have agreed in principle to avoid the ongoing legal process, after all despite what we might think of them they will be aware of their social responsibilities and i suspect they do care. In that case it could go either way still. I think if it is true, and a formal sale is agreed, then the success of any new owner will be reliant on expertise, specifically in the U.K. aviation market. Let’s not forget that Vantage quickly offloaded it, so people hoping for a saviour should be very careful what they wish for. Any Arabian consortium with lots of money could buy it, but they also wouldn’t be afraid to churn up the runway when it fails to perform as expected, and they’d probably do this much quicker than Peel or any other U.K. based owner would do. Of course it could actually be a credible offer from a completely different organisation (I have heard rumours that two major U.K. airport operators have taken an interest), in which case that would be the best case scenario for the airport. Of course, Peel could be leaking rumours themselves to try to influence any legal challenges by DMBC only for talks to fail at the 11th hour. Let’s face it, it really isn’t a financial success, pretty much a basket case to date, so any due diligence would uncover this anyway (assuming Peel haven’t actively priced themselves out of the market) so this is not over yet. Yes, IF someone is really looking to pay the price Peel are happy with they aren't doing so to acquire a commercial airport wth a record of 17 years of losses. They will be eyeing-up the land and its possible uses beyond aviation. DSAs weaknesses are inherent in its position to population and costs to operate/ maintain. A new owner may have a go at running pasenger/cargo operations but those who imagine a seamless return to how things were should think again.
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Post by flyer on Dec 1, 2022 8:09:56 GMT
Still no news fromm the Court and both parties are very quiet. Not unusual for Peel but unusual for the Councils who have been vocal up to now. In negotiations this silence could mean they've reached a point where they agree to go "into a tunnel " I.e. say nothing while they get down to serious detail. It could also mean they've both played their cards and are waiting for the court to rule before the next phase begins. Very difficult to read with this silence from the parties. Stalemate? Progress behind the scenes? As PUG said there's alot to play out.
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Post by pug on Dec 1, 2022 8:30:17 GMT
Still no news fromm the Court and both parties are very quiet. Not unusual for Peel but unusual for the Councils who have been vocal up to now. In negotiations this silence could mean they've reached a point where they agree to go "into a tunnel " I.e. say nothing while they get down to serious detail. It could also mean they've both played their cards and are waiting for the court to rule before the next phase begins. Very difficult to read with this silence from the parties. Stalemate? Progress behind the scenes? As PUG said there's alot to play out. I think Peel have remained pretty silent throughout. The Council will not want to make any statements whilst the court process is ongoing.. I am surprised about the radio silence from the legal challenges though.
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Post by pug on Dec 1, 2022 15:48:51 GMT
Still no news fromm the Court and both parties are very quiet. Not unusual for Peel but unusual for the Councils who have been vocal up to now. In negotiations this silence could mean they've reached a point where they agree to go "into a tunnel " I.e. say nothing while they get down to serious detail. It could also mean they've both played their cards and are waiting for the court to rule before the next phase begins. Very difficult to read with this silence from the parties. Stalemate? Progress behind the scenes? As PUG said there's alot to play out. Judicial review turned down.
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Post by flyer on Dec 1, 2022 17:24:49 GMT
No mention that I can see about the injunction to protect aviation critical equipment etc but I guess that has fallen because all the Mayor is threatening now is Compulsory Purchase. No comment from Peel so far. Whether or not these supposed credible bidders amount to anything or not this legal ruling confirms that its Peels right to sell or not to sell. If they are continuing in talks that are going nowhere they don't have to now.
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Post by mrmoose on Dec 5, 2022 9:36:02 GMT
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Post by pug on Dec 5, 2022 12:28:30 GMT
No mention that I can see about the injunction to protect aviation critical equipment etc but I guess that has fallen because all the Mayor is threatening now is Compulsory Purchase. No comment from Peel so far. Whether or not these supposed credible bidders amount to anything or not this legal ruling confirms that its Peels right to sell or not to sell. If they are continuing in talks that are going nowhere they don't have to now. That was also rejected as outline in the link posted by mrmoose above. I think it solely rests on the talks between Peel and interested consortium that are rumoured to be progressing now, a CPO will simply not be an option. After all, how can they implement a CPO if they haven’t already approached Peel with an offer themselves, unless they are part of the interested consortium?
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Post by flyer on Dec 5, 2022 15:14:34 GMT
No mention that I can see about the injunction to protect aviation critical equipment etc but I guess that has fallen because all the Mayor is threatening now is Compulsory Purchase. No comment from Peel so far. Whether or not these supposed credible bidders amount to anything or not this legal ruling confirms that its Peels right to sell or not to sell. If they are continuing in talks that are going nowhere they don't have to now. That was also rejected as outline in the link posted by mrmoose above. I think it solely rests on the talks between Peel and interested consortium that are rumoured to be progressing now, a CPO will simply not be an option. After all, how can they implement a CPO if they haven’t already approached Peel with an offer themselves, unless they are part of the interested consortium? Thanks PUG. Yes, buy out seems the only route for DSA to be re-born now. I expect Peel will continue to have a dialogue with this bidder who has a supposed pot of gold. Why wouldn't they see if it really has any substance and will give them a better return on their investment than their alternative plans for the site. The Court ruling puts Peel firmly in the driving seat. They don't need to act against their strct business interests as they have done sometimes up to now.
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Post by pug on Dec 15, 2022 12:44:40 GMT
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Post by flyer on Dec 15, 2022 16:27:49 GMT
Yes, interesting. A more measured account of the DSA saga that contrasts with some of the un-hinged, conspiracy stuff that has populated social media. Interesting that the disappointment felt by Peel that local authorities did not engage when first alerted to the serious situation at DSA is clearly stated. Also confirms that Peel are exploring with another party whether aviation activity is possible on the site. Not clear what that means - and maybe they don't either at this point. There's profit, jobs and economic development in Peels new plans for the site and the loss of opportunity to make those thing happen will be a big consideration.
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