The sky's the limit, Yorks councils could net millions in airport sell-off

HI

This item has appeared this eveings local eveing Paper The Yorkshire Evening Post here in Leeds & West Yorkshire. Looks as thou the local Lid Dem council here in Leeds who run Leeds/Bradford Airport along with the 4 other district conucils here in west Yorkshire are on about selling its shares in the Airport (5 district Councils being Leeds, Bradford, Calderdale, Wakefield & Kirklees)

The sky’s the limit
Yorks councils could net millions in airport sell-off

By DAVID MARSH
LEEDS Bradford Airport could be sold in a move which would net councils in West Yorkshire a windfall worth tens of millions of pounds.
Senior councillors in Leeds – which could be in line for up to £40m – are discussing the possibility of cashing in on the airport which attracts over one million passengers a year and is jointly owned by West Yorkshire’s five local authorities.
An independent report analysing options for the airport’s future was commissioned by Leeds City Council, and some senior figures within the authority believe now could be the right time to sell.
It was estimated last year that hiving off a 51 per cent stake to the private sector could fetch £100m, of which Leeds and Bradford would each receive £40m with the remaining £20m split equally between Wakefield, Kirklees and Calderdale.
Selling the asset would provide Leeds with a cash pot which could be used to support a number of projects considered vital to its economic future, including the building of an arena.
Capital
Along with the prospect of receiving a massive payout, a number of other factors are driving the push for a sale.
The airport will require major capital investment over the next few years – likely to include the resurfacing of the runway – which leaves the five councils facing a multi-million pound bill.
It will also need investment to help it compete with rivals, particularly the new Robin Hood Airport near Doncaster. When in opposition on the council, Conservatives in Leeds called for the council to sell the airport. Now part of a ruling alliance with the Liberal Democrats and Greens, they are keen to force the issue up the local political agenda.
They are also encouraged by the £194m shared between councils in the North East three years ago when they sold a stake in Newcastle Airport.
Coun Andrew Carter (Con, Calverley and Farsley), the council’s deputy leader, said: “Leeds Bradford is the only airport in the UK without a private sector partner. The airport is key to the city’s economic success, and it is important we keep reviewing our options. Robin Hood is a threat in the longer term and we need to do all we can to ensure Leeds Bradford is in the best position to compete.
Successful
“There is a lot that can be done, but as local authorities we haven’t got the sort of money required.”
Coun Mark Harris (Lib Dem, Moortown), council leader, said: “My view on the airport is the same as it is with other council services. The starting point is what is the service for and how is it best delivered? Ownership is almost irrelevant. I am not wedded to any dogma – private or public – but I am in favour of looking at the airport’s future to ensure it provides successful services in the best interests of itself, the city and the region.”
Coun Keith Wakefield, Labour group leader, condemned the idea as “selling off the family silver.”
He said: “The airport is a big public sector success story. It is an efficient and well loved asset that is owned by the people. I know it has to compete with others, but Leeds Bradford serves a huge catchment area and I think it can meet any challenges.”
Leeds now wants to arrange talks with West Yorkshire’s other councils to discuss a possible sale. In 2004-05 the airport made a pre-tax profit of just over £1.2m compared with just over £2.6m for the previous year.
[email]david.marsh@ypn.co.uk[/email]

Also you can read here http://www.leedstoday.net/ViewArticle2.aspx?SectionID=39&ArticleID=1230775