Tuesday, May 18, 2010

Manston Bosses Still Posting Losses

Sticking with the aviation theme, Infratil, the Kiwi owners of Chas 'n' Dave Tracey Emin Margate Ramsgate RAF Manston Kent London International Airport, have returned to profit according to their latest annual results, out today.

However, the story at their European airports, which now number just C'n'DTEMRRAFMKLIA and Prestwick following the sale of Lubeck last year, was less rosy, with a loss of NZ$9m (around £4.4m) heading down the gurgler and into the poor investors' aquifer.

Overall Infratil seem more interested in selling meat pies at the chain of NZ servos they just bought off Shell than running airports these days. Oh well. If that keeps the skies over the Millionaires' Playground peaceful, it's alright by me!

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27 comments:

Anonymous said...

When they took the airport over they predicted they'd break-even in three years. Four years later and they're as far away as ever. I'm just surprised that the main board hasn't pulled the plug.

I remember when they suggested building a new prison up there. The proposal was vehemently rejected by our elected representatives, although they didn't ask anyone before rejecting it. In the current climate it looks as though a new prison might have provided a good number of stable jobs for local people. As usual the fools we elected allowed themselves to be swayed by the men in shiny suits.

Anonymous said...

A large part of that loss is I understand investment in infrastuct

Anonymous said...

A large part of that loss is I understand investment in Infrastructure

Richard Eastcliff said...

What would that be then?

Meanwhile, in the real world, analysts expect Infratil to sell off Kent and Prestwick in the near future. More here.

Readit said...

"Stable jobs" hey!. Horse riding for inmates, whatever next Sure beats tellies and computers. Have to make sure the fences are high enough though. Rehabiliation as jockeys for Aintree, very imaginative.

Anonymous said...

Can't help but admire anyone who describes themselves as very imaginative!

Lucy Mail said...

I already have plenty of admirers, but I'd imagine that I could cope with one more.

malaprop said...

I can only imagine the queues of eager buyers.

The Rock said...

Who knows, with extra runways at Heathrow and Gatwick now looking less likely due to the Lib/Green/Con influence, Manston might just come into its own as an alternative option. Then watch the old Thanet moaners unite in their fury. Mind you, can you imagine how they would have kicked off if the TDC really had approved a prison.

Anonymous said...

Rock, are you saying you think it is right to block expansion at two already big airports, with existing high levels of disruption, and right to allow expansion at an airport with no recent history of significant usage?

Anonymous said...

The Rock is The Thanet people's highbrow.

Anonymous said...

TDC/KCC argue for Manston for jobs. There are undoubtedly many different uses the land could have been put to which would have created far more than the 112 reported full AND part time jobs currently created at Manston. Prison. Nuclear power station. Wind Farm. Campus for Canterbury Uni. Large mixed use site such as Kings Hill. However, we are stuck with the airstrip.

Will the airport succeed now where its failed during the air travel boom of the last 15 years? Unlike the Rock, I think Heathrow will expand without additional runways. I think Birmingham will expand before Manston does. Stansted has oodles of capacity before it gets to Gatwick size.

Where will Manton be in 10 years? bottom 10% of runways in the uk as it is today and still in the middle of an economically depressed area.

The Rock said...

Have no strong views on Heathrow/Gatwick extra runways either way but my main point was that, whatever the plans for Manston, the 'stop everything new' Thanet protest group will object.
Nuclear power would contaminate the water table, students are noisy and ill mannered, prisons are full of villains, wind farms spoil the view and any new building must be an eyesore or is lining the pocket of somebody at TDC. This is Thanet and every proposal upsets somebody. Too many have little else to do but moan but, then, if it keeps them happy, who am I to knock it.

Anonymous said...

Argue all you like "The (Blue) Flock"?

Manston is a dead duck and only lives because TDC and KCC covet it.

Infrastructure costs my A***.

Good old Norf Fannit Wodger wants to build a play station at great public expense when TDC has not even dealt with it properly in the Local development fudge aka the LDF.

Its a pity The Norf Fannit Rock does not do his/her homework.

Anonymous said...

I am one of the moaners but would not moan about a prison, uni campus or windfarm.

Canterbury has a horrible prison and 2/3 universities but it doesn't stop the place thriving and being nice. The difference is they have a decent council there so whatever they put at Manston TDC would f*ck it up.

Malaprop said...

The differences between Thanet and Canterbury are a great deal more expansive than the different councils in situ!

Anonymous said...

Yes - one has kept its environment pristine, the other has let it go to the sh*tter.

The Rock said...

Interesting but surely an environment is largely created by those that live within it, the very same people that elect the TDC.
Also can some of you please read before responding. I do not support the expansion of Manston, or particularly oppose it though I think it unlikely, but was simply making the point that whatever was proposed would upset some people.
Additionally I am a South Thanetian, not a Norf and I do not even know Wodger or which willage he hails from.

Anonymous said...

The Rock is typical of those policicians who have oversen the decline of Thanet. As soon as anybody questions their big ideas they get all aggressive and start accusing people of being in the anti-brigade. I'm not in the anti-brigade. I'm just not in favour of a loss-making airport which has blighted development in the area for more than ten years. There are lots of things I would be in favour of but TDC isn't doing any of them.

Anonymous said...

"A large part of that loss is I understand investment in infrastructure"

Maybe in lala land where you live.

Manston costs millions to run each year and the revenues are negligible. It has been making operating losses for the last ten years. Little or no capital investment has been taking place recently. Make no mistake, it's a money pit. It brought Wiggins down and Infratil would be well-advised to flog it off.

The Rock said...

Anon 9;39, you clearly have a problem understanding the written word so I repeat for the umpteenth time, I do not support, or oppose for that matter, an airport at Manston. I simply made the point that whatever was proposed for the site would raise objections from some quarter or other. As for aggression, it is all coming from you for, frankly, I don't give a stuff what you think and only come on here for a little light relief.

Anonymous said...

Here here!

Anonymous said...

Rock, I agree with your challenge to 939 - you were indeed making a different point - though not the manner of your challenge. "I don't give a stuff..." is unnecessarily rude. Whatever, I don't think you're coming on here for light relief. No, no, no. You are looking to press your views, which happen to be Conservative (no problem there), and this blog is a vehicle for your promotional activity. Having seen your congratulatory comments elsewhere about a Tory old fart elected to a non-job (Chairman) at KCC, as a "reward", you are clearly well in the fold and up for spreading the word. And good luck to you, mate.

Anonymous said...

Oh dear, looks like I pushed the right button where the old Rock is concerned.

In defence he claims that he never expressed any view in support of Manston. I beg to differ:

"Manston might just come into its own as an alternative option. Then watch the old Thanet moaners unite in their fury.."

As previously suggested, the Rock sounds like one of the old duffers who have been running Thanet into the ground for the last twenty years.

The Rock said...

The operative word was 'might' and the statement does not in anyway imply support. There are many reasons why Manston will probably never become a major, or even mildly busy airport, location and communications amongst them. The real issue is what else could be done with the place and my point remains that whatever was proposed some interests would be offended.
What this debate has to do with politics, age or pressing views is beyond me. I thought it was an exchange of ideas on issues sometimes conducted in a light hearted manner. Regrettably, once you are dubbed a Tory on this page, whatever the justification for such label, every point one makes is treated as having a blue slant. As for the 'old duffer' bit thanks a bunch but, as I said before and repeat, frankly my dear Anonymous, I don't give a damn. Suitable note on which to disappear into the sunset like Reb Butler!

Richard Eastcliff said...

To be fair, Mr Rock, it's not just Tories who come in for stick here. I used to be called many a name by those of a true blue hue who were outraged by my radical DFL politics, such as racial harmony being a good thing to aim for, and Mrs Thatcher being a mad old bat.

Of course, after five years as Thanet's top blog dog, my views have now been almost universally adopted and hardly seem worthy of comment.

I see myself not so much as a property developer as a social developer, renovating Ramsgate politically and making it safe for decent, ordinary, North London champagne socialists to live in!

Anonymous said...

I suck coz I only appear to be able to think of one joke and one joke alone...

Why did the plane crash into the house????



COZ THE LANDING LIGHT WAS ON!!