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24/09/2001
Future of Belfast International airport remains unclear
A further slump in the share price of TBI, the company that owns Belfast International Airport has cast doubt on a potential takeover of the airport.
The share price of TBI dropped to 52p on Monday September 24 from a high of £1 when the report of a £515 million take over was revealed in mid August.
TBI, which controls numerous airports throughout the world including Belfast International Airport, had been poised to become the target of a takeover war, following a bid from French construction giant Vinci and others as a direct result.
But the terrorist attacks on America and airline cutbacks have cast doubt on the £500 million bid by Vinci.
Based in Aldergrove, County Antrim, the airport caters for over three million passengers per year.
Meanwhile, budget airlines are trying to encourage passengers back to the air, with Irish carrier Ryanair announcing the sale of a million seats at £9.99 apiece and promising not to cut services or sack staff.
EasyJet founder Stelios Haji-Ioannou said that between three and six of the former state-owned flag carriers needed to disappear if Europe's air travel market were to return to health.
The fortunes of TBI have fluctuated considerably this year. Earlier this year in August TBI shares slumped by one third in a week, after it was revealed that bmi British Midland was to withdraw Heathrow and East Midlands services from Belfast International. The move is estimated to have cut airport revenue by up to £6 million-a-year. (AMcE)
The share price of TBI dropped to 52p on Monday September 24 from a high of £1 when the report of a £515 million take over was revealed in mid August.
TBI, which controls numerous airports throughout the world including Belfast International Airport, had been poised to become the target of a takeover war, following a bid from French construction giant Vinci and others as a direct result.
But the terrorist attacks on America and airline cutbacks have cast doubt on the £500 million bid by Vinci.
Based in Aldergrove, County Antrim, the airport caters for over three million passengers per year.
Meanwhile, budget airlines are trying to encourage passengers back to the air, with Irish carrier Ryanair announcing the sale of a million seats at £9.99 apiece and promising not to cut services or sack staff.
EasyJet founder Stelios Haji-Ioannou said that between three and six of the former state-owned flag carriers needed to disappear if Europe's air travel market were to return to health.
The fortunes of TBI have fluctuated considerably this year. Earlier this year in August TBI shares slumped by one third in a week, after it was revealed that bmi British Midland was to withdraw Heathrow and East Midlands services from Belfast International. The move is estimated to have cut airport revenue by up to £6 million-a-year. (AMcE)
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