News: Coventry Airport Sold
Flights > News > # 683 (05/01/2006)
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Following months of speculation, leisure group TUI have confirmed that they have sold Coventry Airport.
The Airport operating company, West Midlands International Airport Limited (WMIAL), has been acquired from TUI UK by CAFCO (Coventry) Limited (CAFCO-C). This is a new joint venture company constituting Howard Holdings plc, an Anglo Irish property development group, and Convergence-AFCO Holdings Ltd. (CAFCOHL) an Anglo American airport management and development company.
The airport will continue to operate as normal and the new owners have confirmed that they plan to fully pursue the existing development plans for Coventry Airport. A second Public Inquiry over the airport's future, this time to determine the future of the permanent terminal, commences on 10th January.
Alan Robinson, Chairman of CAFCO-C and CAFCOHL, together with Chuck Stipancic Chief Operating Officer of AFCO Inc. said:
“We are fully committed to the planning application being considered and we plan to develop the airport within an environmentally sustainable programme. We are pleased that Bill Savage has agreed to take the position of Executive Chairman of WMIAL and as his focus will primarily be upon the planning inquiry issues, I am very happy that Adrian Jones, the current Finance Director will also step up to run the business as acting Managing Director.”
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Comment:
Between CAFCO, CAFCO-C, CAFCOHL and AFCO, there is a fair amount of decoding needed to understand who actually owns the airport, made even more complex by the fact that Coventry City Council (CCC) own the land the airport sits on, yet the plann
