Times: Coventry Airport sale price was £10m
08.01.06
In an article describing the battle looming over expansion plans at Coventry airport with rival Birmingham International, the Times newspaper names the price paid for Coventry by an Irish-American consortium last week.
When the deal was announced on Thursday, Irish developer Howard Holdings, in tandem with an American group, Convergence-AFCO Holdings, who purchased Coventry Airport from German tour operator TUI refused to name the price. However the times says today that it was €14.25m (around £10m).
A sale price of just £10m would give TUI a profit of £1m over the purchase price of the airport two years ago. It is just one-third of the price TUI were said to have offered the airport to rivals Birmingham Airport during the Autumn.
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