Wed, 14 Nov 2012 | BUSINESS SALE
Infatril has had no luck in finding a buyer for Prestwick Airport, it has been confirmed.
The New Zealand company put Prestwick and Kent airports up for sale in March this year but there has been no sign of a buyer for either business so far.
In fact, the value of the businesses has now fallen and Infatril has had to take an impairment charge of £22 million, leaving the value of Prestwick at around £14.3 million and Kent at £7.6 million.
The businesses recorded losses of a little over £2 million in the six months to the end of September. Meanwhile, the number of passengers travelling through the airports fell by more than 180,000 during the same time period.
However, much of Prestwick's income is derived from property, other aircraft activity and freight business, which was shown to have increased over the same time period.
Despite the drop in passengers, the owners have said that they will “continue to seek a buyer for the airports and work with local stakeholders to review alternatives”.
Infatril bought Prestwick Airport from Stagecoach in 2001 for £33.4 million. Before that, Stagecoach purchased the business from Canadian businessman Matthew Hudson in 1998.
Project Uranium designs and provides a high performing range of single-glazed and double-glazed partitioning systems. To further enhance this portfolio, the company has designed and laboratory-tested a fire-rated range, alongside a variety of acousti...
The company is a retailer of high-end costume jewellery operating out of a premium-located London store, with its growing online presence enabling it to attract interest from customers worldwide. Revenue is predominantly generated in-store, with the...
The business’s services encompass manned guarding, CCTV monitoring, vehicle patrol, key holding, event security, and door supervision, all delivered by highly qualified security personnel. The company offer a range of specialised security solutions,...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.