PIK

[cammyboy]

The loan will be repaid when the business is sold.

But what about the interest - £9.1m at Mar 2023 (circa £10.0m today) . . . now that's not a commercial loan!

You can see where management is heading - small Ryanair base so as not to put too much strain on the infrastructure, no need to replace terminal (I assume no RAAC or asbestos risk) just keep it maintained with a lick of paint and modest internal works, develop more non-based Ryanair flying in between the based aircraft rotations so no huge increase in staffing and keep using part-time / temporary contracts, and of course continue to develop other income streams

Remember they only have debt funding of £52.5m - AGS has approaching £1,000m

I think the headline figure should be the updated £61.6m that is glowing into the Scottish economy that wouldn’t have been if our government hadn’t acted to save it. A win for Scotland.

Where does the £61.6m figure come from, Clive? How does that relate to debt funding or loans to the business? I can't figure out your numbers?

[Clive]

But what about the interest - £9.1m at Mar 2023 (circa £10.0m today) . . . now that's not a commercial loan!

You can see where management is heading - small Ryanair base so as not to put too much strain on the infrastructure, no need to replace terminal (I assume no RAAC or asbestos risk) just keep it maintained with a lick of paint and modest internal works, develop more non-based Ryanair flying in between the based aircraft rotations so no huge increase in staffing and keep using part-time / temporary contracts, and of course continue to develop other income streams

Remember they only have debt funding of £52.5m - AGS has approaching £1,000m

I think the headline figure should be the updated £61.6m that is glowing into the Scottish economy that wouldn’t have been if our government hadn’t acted to save it. A win for Scotland.

Where does the £61.6m figure come from, Clive? How does that relate to debt funding or loans to the business? I can't figure out your numbers?

Not my figures. See the article. Scotland’s economy is better off with an operational airfield at PIK than closed. That is crystal clear.

[cammyboy]

I think the headline figure should be the updated £61.6m that is glowing into the Scottish economy that wouldn’t have been if our government hadn’t acted to save it. A win for Scotland.

Where does the £61.6m figure come from, Clive? How does that relate to debt funding or loans to the business? I can't figure out your numbers?

Not my figures. See the article. Scotland’s economy is better off with an operational airfield at PIK than closed. That is crystal clear.

Ok, thank you. Appreciate the response.

[Clive]

As soon as US resupply flights to Ukraine etc slow down / stop then PIK’s main revenue stream goes from a flowing river to a trickling burn.

Not at all. Very few of the US military flights are to or from Ukraine. Many are to or from the Middle East and others are tanker operations. For example, two KC10s and two KC46s today providing air refuelling to US fighters returning back to the US from Europe.

In any event, there were loads of US military flights using Prestwick prior to the February 2022 hostilities in Ukraine. A Ukraine in NATO (or at least being re-equipped with US military kit) will need supplied for years. Prestwick's ideally placed for such flights to stopover, so the US should hopefully keep using it for some time. Note the accounts say "we will invest in facilities to support our military customers" so they wouldn't be considering that if their "main revenue stream" was likely to go "from a flowing river to a trickling burn".

The terminal's not closing anytime soon, not are Ryanair leaving anytime soon and there's a rich stream of revenue from the airport's hard work in securing military customers. Folks on here might have an easier time if they accepted those realities.

Yes agree with all of that and now that FR have signed a new 5 year deal the doubt around that has gone. I don’t think it will be a substantial growth deal but another 5 years of more or less the same.

From GLA’s perspective the management there now have to secure a Ryanair base which will operate in addition to their PIK one.

It’s a shame AGS didn’t buy PIK when that was allegedly a possibility.

[Bearsden]

From GLA’s perspective the management there now have to secure a Ryanair base which will operate in addition to their PIK one.

I struggle to see why Ryanair would need / want another base in Central Scotland

Demand is not infinite - a third base would surely be at the expense of another airline's traffic or dilute the traffic at its two existing bases (just add up the number of aircraft based in Scotland by easyJet, Jet2, Ryanair and TUI Airways and critically their operating pattern mix between outbound and inbound markets)

I would need to do a full market by market analysis to understand the + and - but the combined EDI/GLA/PIK annual passenger traffic is still 2.9m down on 2018 of which GLA is 2.6m and 2.7m down on 2019 of which GLA is 1.7m

[GKirk]

Good to see TUI operating a charter from PIK this morning.

[Ekally1]

Who was it for ?

[Bearsden]

Who was it for ?

Annual day trip to Lapland organised by local charities

[Clive]

A new expression of interest in purchasing PIK has been made acccording to reports. No further details known

[will1983]

FR PIK W24 being released:

ACE - 2PW
TFS - 5PW