IFT - Infratil

[psychic]

15 October 2013


Infratil agrees to sell Manston Airport

Infratil Limited has agreed to sell Manston Airport to Lothian Shelf (710) Limited, an entity
wholly owned by Ann Gloag, for cash consideration of £1 plus an adjustment for working capital
variances and cash injected by Infratil between 14 October 2013 and transaction completion
(which is expected to be around GBP350,000). Ann Gloag is an experienced investor who
co-founded Stagecoach Group, the UK-listed public transport operator, along with her brother,
Brian Souter.

“Infratil Limited is very pleased to have found an acquiror with a vision for Manston Airport’s
future development.” said Marko Bogoievski, Chief Executive of Infratil. “From Infratil’s
perspective, while Manston was a very small part of the company’s overall asset base, this sale
will result in a more focused portfolio and improve our future cash flow position.”

[peat]

another from Infratil gone

yeh that's two now.
something in the water ?

[QOH]

yeh that's two now.
something in the water ?

Nearly three, Tim Brown is very lucky to be alive.

[andysh]

Chalkie on Wellington Airport Extension:

http://www.stuff.co.nz/business/opin...-citys-saviour

[CJ]

Chalkie on Wellington Airport Extension:

http://www.stuff.co.nz/business/opin...-citys-saviour

I think it all comes down to regulated returns - if they invest $350m, they can put up their landing charges on all flights as they are allowed a set return from any capital investment. Completely unnecessary in my view.

[macduffy]

Yes, it's hard to see how Wellington Airport could attract an airline to contribute to the cost to enable it to fly to an Asian port, given the disparate destinations involved and the relatively small numbers of local passengers wanting to travel to each of them. Not much point in flying from Wellington to Singapore or Hong Kong for example if your destination is Shanghai, Beijing or Manila and there's a direct flight from Auckland or Sydney. A bit of realism from "Chalkie" - Pattrick Smellie - on this occasion.

[FarmerHamilton]

Yes, it's hard to see how Wellington Airport could attract an airline to contribute to the cost to enable it to fly to an Asian port, given the disparate destinations involved and the relatively small numbers of local passengers wanting to travel to each of them. Not much point in flying from Wellington to Singapore or Hong Kong for example if your destination is Shanghai, Beijing or Manila and there's a direct flight from Auckland or Sydney. A bit of realism from "Chalkie" - Pattrick Smellie - on this occasion.

Agree , this is crazy stuff. It would be cheaper to fly from Auckland , and a 45min flight up the North Island is nothing , most people in the world leave home hours and hours before their flights depart with horrendous traffic and 3hr check-ins. Air NZ tried a CHC-LAX run for a while but it just didn't work.

[CJ]

Might of worked 10+ years ago when lots of Multinationals were based down there but they are all in Auckland now. As Key said, it is dying. Hub and Spoke are the way eilines go and for that Auckland is all NZ needs.

[Mista_Trix]

Might of worked 10+ years ago when lots of Multinationals were based down there but they are all in Auckland now. As Key said, it is dying. Hub and Spoke are the way eilines go and for that Auckland is all NZ needs.

While I agree all the large multiantionals are up there, there's definitely a growing number of the 'think different' businesses in Wellington - TradeMe and Zero etc come to mind.

DISC: Wellingtonian, we're not dead yet!!

[macduffy]

You're right there, Mista Trix.

The point though is that it's much easier to make the connecting flight in NZ than to face that in one of the big Asian hubs. The Wellington Region isn't going to be able to support multiple destinations, however wide Fran Wilde and her supporters would like to extend "Greater Wellington."