Birmingham Airport struggles with runway financing
15.11.09
Birmingham Airport’s plans for expansion could fall victim to the recession, the Solihull News reports. Proposals to extend the airport runway by 400 metres were given the green-light by Solihull Council in April. But it has emerged that the £120m development is struggling to get off the ground - with airport bosses hunting for financial backing.
Paul Kehoe, BIrmingham Airports’s chief executive, has appealed for help from the West Midlands Minister Ian Austin to ensure the project continues. He told the newspaper: ‘We have a recession but, in terms of trying to borrow money, the banks will lend and we have credit-worthiness. However, trying to get a decent rate of interest is a nightmare.' Mr Kehoe also questioned the business case for the extension, which at one stage was due for completion by 2012, given the current climate.
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