Some people have all the luck! Recorded a loss of around $6.2 million, higher than revenues of $4.2 million
Source:- http://tvnz.co.nz/view/news_travel_stor ... ormat=html
Apr 15, 2005
The northern German city of Luebeck has sold a 90% stake in its airport to New
Zealand-based investor group Infratil for $23 million, the city authorities announced on Thursday.
In addition to the purchase price, Infratil, which is owned by investment banking group HRL Morrison, has pledged to invest around $106.5 million in the loss-making airport and take over its losses, the city of Luebeck said in a statement.
Luebeck airport handled around 600,000 passengers last year and booked a loss of around $6.2 million, higher than revenues of $4.2 million
Infratil, which is listed on the New Zealand stock exchange, specialises in investment in infrastructure and utility assets and owns stakes in Wellington airport, as well as in Glasgow's Prestwick airport in Scotland.
Cheers,
White Cap
