Rising debt forces Newcastle airport sale
it look to reduce ballooning debts, The Sunday Times reports without citing sources.
KPMG to advise them before debt repayments are due, the paper said. The authorities
are Durham County Council, Gateshead MBC, City of Newcastle, North Tyneside MBC,
Northumberland County Council, South Tyneside MBC and City of Sunderland.
on in 2006.
keen to sell.
and Vice President of Copenhagen Airports A/S said: “We don’t comment on market
speculation. We are often approached by airport investors but we are not in a
formal process to sell Newcastle.”
compared to 2009.
2008 5,017,000 passengers (down -11% on 2007)
Bosses silent over Newcastle Airport sale claims
could be put up for sale. Copenhagen Airports, which owns 49% of the airport,
has put its stake on the market following a decision by Macquarie Bank to withdraw.
Councils denied that the other 51% was also up for sale. Without a new equity
investor putting cash into the business councils may have to sell their own stake.
They may also have to pay a great deal of money.