EGPF Forum

Resident 787 LN-LNG has now become EI-LNG. Don't know if this means it is going anywhere (no engines). Presumably the recent announcement that Norwegian are out of long haul means it has been sold or returned to lesser.

New bidder in the frame. No surprise yet again unnamed company but looks likely that the £43m will be written off.

Shades of BiFab, Fergusson Marine: when oh when will the hard pressed tax payer be given value for money? I often wonder if the largesse shown by politicians with our funds would be so generous if it came from their own pockets.

atuk wrote: ↑Tue Feb 23, 2021 10:05 pm New bidder in the frame. No surprise yet again unnamed company but looks likely that the £43m will be written off.

Shades of BiFab, Fergusson Marine: when oh when will the hard pressed tax payer be given value for money? I often wonder if the largesse shown by politicians with our funds would be so generous if it came from their own pockets.

They are taxpayers like us, so if it’s coming out of our pockets it’s coming out of theirs too.

The sale price hasn’t been revealed yet so we don’t know how much the public purse will get back.

https://www.scotsman.com/news/transport ... rt-3144342

Personally I’m more interested to know what plans the buyers have for the airport and if they are going to close the terminal pax ops.

All three of the companies you mentioned have been saved from certain closure. Most people would think that’s better than closure.

Clive wrote: ↑Tue Feb 23, 2021 10:18 pm [quote=atuk post_id=3245 time=<a href="tel:1614117939">1614117939</a> user_id=75]
New bidder in the frame. No surprise yet again unnamed company but looks likely that the £43m will be written off.

Shades of BiFab, Fergusson Marine: when oh when will the hard pressed tax payer be given value for money? I often wonder if the largesse shown by politicians with our funds would be so generous if it came from their own pockets.

They are taxpayers like us, so if it’s coming out of our pockets it’s coming out of theirs too.

The sale price hasn’t been revealed yet so we don’t know how much the public purse will get back.

https://www.scotsman.com/news/transport ... rt-3144342

Personally I’m more interested to know what plans the buyers have for the airport and if they are going to close the terminal pax ops.

All three of the companies you mentioned have been saved from certain closure. Most people would think that’s better than closure.
[/quote]

I’d disagree regards saved from closure. Perhaps hanging b a thread may be a better description. Anyway back to PIK.

Why the secrecy? If PIK was a plc then Company officials would have to declare details to the London Stock Exchange; this is the law.

I would like to see the same largesse applied to PIK be given to AGS and GIP: at least in time, preparing sustainable business plans for recovery and protecting jobs and employment prospects.

All we have is smoke and mirrors, again, and everything in the toy box thrown out to help at two bit player in a second rate poker game.

Apparently the preferred bidder is a European infrastructure investor.

The accumulated interest on the £43.4m loan (as at 31 March 2020) hasn't been paid . . . . by the end of March 2021 that will total about £6.6m, so a nice round £50m

What are the odds of a 'DISCOUNT PRICE' because of COVID-19?

If the airfield is sold to a commercial company at an arm's length price then there will be no question of Ryanair's passenger operation benefiting from a state subsidy - so possibly no change, passenger operations continue except that the outbound holiday market size in Central Scotland will probably be lower in 2022 & 2023

East Midlands Airport Freeport . . . . . . Prestwick Airport Freeport?

Interesting to note the Welsh government have written off a loan to CWL of a near identical sum and loaned it a further £46m.

However I’m not sure if it’s their intention to ripen then sell the facility to a commercial buyer like it is at PIK.

Bearsden wrote: ↑Wed Mar 03, 2021 10:12 pm East Midlands Airport Freeport . . . . . . Prestwick Airport Freeport?

I think the Freeport Scotland road signs are still in place on the A78, as far as I can remember the only takers were Caledonian Airmotive, now GE Caledonian. Most of their work goes by road, some on Cargolux.

There's a NOTAM out for PIK saying RWY 12/30 and RWY 03/21 closed for resurfacing from the 4th August to 31st August.