RNS Number:4566J
Planestation Group PLC
08 March 2005
PlaneStation Group Plc: PTG.L / Index: LSE / Sector: Transport
8th March 2005
PlaneStation Group plc ('PlaneStation' or 'the Group')
Update
PlaneStation Group plc, the fully listed airport and airline operator, has made
significant progress following its restructuring programme and successful fund
raising earlier this year. The new strategy being implemented is aimed at
enhancing the value of the Group's airport assets and creating a successful low
cost airline, EUjet, based at Kent International Airport, Manston ('KIA') and
Shannon ('SNN') in Eire.
Black Forest Airport, Lahr, Germany
On Monday 28 February the Higher Administrative Court of the State of
Baden-Wurttemberg issued a judgement that the state government's refusal to
grant a full passenger licence at the Group's Black Forest Airport, Lahr,
Germany, was unlawful. No leave to appeal has been granted and the licensing
authority is obliged to reconsider its decision within one month.
Black Forest airport has been identified as a core airport asset of the Group
and a potential future hub for the Group's wholly owned airline EUjet. Situated
within 30 minutes driving time of Strasbourg, the airport extends to 515 acres
with a further 380 acres of development land adjacent to it. The airport
already has a full cargo licence.
KIA and EUjet
EUjet, the Group's low cost airline based at KIA, shows continued progress with
seats sold now exceeding 260,000 since its launch in September 2004.
Having changed the emphasis across the airline from business to leisure, the
average load factor across the airline is typically 60 per cent. Demand is more
leisure based than previously anticipated with stronger forward booking orders
for the peak summer season. Significantly the catchment area for passengers is
greater than previously anticipated and website hits have reached 100,000
visitors per week recently.
Additionally, the Group's discussions with cargo operators are progressing well.
KIA has the facilities to handle significant cargo volumes with its new Border
Inspection Post and being out of the air traffic control loops of Heathrow and
Gatwick, offers considerable time advantages over other airports as well as
competitive costs.
* * ENDS * *
Contacts:
Isabel Crossley St Brides Media & Finance Ltd Tel: 020 7242 4477
Notes to the Editors:
* Fully listed PlaneStation Group plc is an airline and airport operator
with additional property assets
* EUjet operates low cost leisure and business passenger flights from its UK
hub at KIA and weekend hub at Shannon in the Republic of Ireland. It
currently operates scheduled services to 22 UK and mainland European
destinations and uses a ticketless booking system - www.eujet.com.
* Kent International Airport, Manston ('KIA'), is a fully operating airport
servicing both passenger and cargo traffic.
* Manston Park comprises approximately 103 acres adjacent to KIA, which the
Group hopes to market and develop in conjunction with the airport.
* Other key airports include
* Black Forest Airport, Lahr, Germany, 30 minutes from Strasbourg,
currently services cargo traffic, but expects to begin passenger flights
within the next 12 months. Facilities include a 3,000 metre runway, 3.5
acres of hangar space, 15 acres of concrete aprons and taxiways, a
traffic control tower, fire station and parking facilities.
* Melbourne Airport, Florida USA, 83 miles from Disneyworld, currently
handling approximately 400,000 domestic US passengers per annum. It is
the closest airport to Port Canaveral, which is the second busiest
cruise port in the world. The Company currently holds an operating
licence for the international terminal for an initial period of 10 years
with five consecutive five-year extensions, subject to performance
thresholds, up to a total of 35 years.
* Other core properties include Fairlop Waters, Forest Road, Barkingside,
Essex, a leasehold property that comprises approximately 345 acres at
Fairlop Waters, which is presently operated as a leisure facility. The
Company hopes to develop a racecourse and grandstand with ancillary
buildings at the site.
* The Group also owns a number of other non-core properties which are being
disposed of.
This information is provided by RNS
The company news service from the London Stock Exchange
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