Abstracts » Business, international

National Express to sell UK airports

Article Abstract:

British airport operator National Express Holdings Ltd is selling its two airports, East Midlands and Bournemouth International, after operating profits at the airports fell by 11% due to the elimination of intra-EC duty-free trade. The company has engaged the services of Merrill Lynch to help in securing potential buyers. On the other hand, National Express is optimistic about the prospects of Stewart International Airport, which it leased from the US Dept of Transportation in Apr 2000. The airport's proximity to Manhattan serves as an excellent opportunity for business.

Asset sales & divestitures

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BAA cuts Terminal 5 spending

Article Abstract:

BAA PLC, an airport operator, has been compelled to cut its spending on the two billion-pound-sterling, ongoing project at Terminal 5 of London Heathrow airport due to the continued public enquiry that is not anticipated to be completed before Mar 1999. The airport operator has already spent over 250 million pounds sterling on land purchases, design and other preparatory activities. The move also calls for cutting the deals for around 50% of the 60 design contractors that are currently involved on the Terminal 5 project.

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High efficiency screening

Article Abstract:

BAA PLC has completed its $20-mil hold baggage screening installation in the main baggage hall at London Gatwick's South Termimal. The project was carried out by Siemens AG's Airport Solutions Group. The contract involved civil and structural work to build a mezzanine floor for the new conveyor equipment, the integration of 13 X-ray screening machines and the isntallation of additional conveyors.

New orders received, Material Handling Equipment Manufacturing, Airline Baggage Equip, Airlines, BAA PLC, Baggage handling equipment

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