Jump to content
House Price Crash Forum

Archived

This topic is now archived and is closed to further replies.

interestrateripoff

Spain's €1Bn White Elephant Airport Could Be Yours For Just €100M

Recommended Posts

http://www.telegraph.co.uk/finance/newsbysector/transport/10228961/Spains-1bn-white-elephant-airport-could-be-yours-for-just-100m.html

The airport at Ciudad Real in La Mancha cost €1.1bn to build but was closed in April 2012 after just four years in operation when its management company fell into receivership.

Flights into the site stopped in December 2011 when low-cost airline Vueling withdrew its last route.

Now the judge overseeing the administration of the airport has ruled that it should be sold off. However, anyone buying the site will also have to pay off €529m of debt. Creditors include savings banks, Air Nostrum and Air Berlin, as well as nearby residents whose homes were bought in order to build the airport.

The airport, 100 miles south of Madrid, has barely been used and boasts a runway long enough to land an Airbus A380 - the world's largest airliner.

So will this find a buyer? Pay €100m to buy an additional €529m of debt.

Any takers for this bargain?

Share this post


Link to post
Share on other sites

Sell it to the Yanks, as a Southern European base, and then ask for it back three hundred years later.

Sounds reasonable. There's a bunch of colonies across the water we need back, come to think of it. With 237 years of back taxes.

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 407 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.