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Oxford Airport, July 20th, 2007 - Oxford Airport, owned by BBA Aviation plc since 2000, was sold today for £40m (US$82m) to Oxford Airport Acquisitions Ltd, a subsidiary of Aldersgate Investments Limited. This follows the disposal a month ago of Oxford Aviation Training, the airports’ sister pilot training organisation, for £37m (US$76m) to GCAT Flight Academy, now forming part of the world’s largest professional pilot training organisation. In 2006, the airport had a turnover of £4.5m, operating profit of £0.3m and gross assets of £11m. Of the original portfolio of businesses bought at Oxford by BBA Aviation plc in 2000, they still retain CSE Aviation, CSE Aircraft Sales, Lynton Aviation Aircraft Sales, Proptech (Portsmouth) and the CSE Citation Centre (Bournemouth).
Having invested over £7.5m (US$15.4m) in the airport’s infrastructure over the last 18 months, a new runway, ILS, approach lighting and hangars are now in place to meet the needs of both business aviation and commercial operators. Consequently, the airport is now well placed to become a notable player in the provision of top quality business aviation services, whilst still being the home to thriving general aviation, pilot training and charter businesses.
After seventy years as Europe’s best known professional pilot training aerodrome, Oxford Airport is now emerging as an alternative ‘regional airport’ such that it now provides enhanced capabilities as an air transportation resource in the South East of the United Kingdom. Within an hour’s drive of the west end of London or the southern side of Birmingham, Oxford’s core catchment population exceeds 5 million. For foreign travellers, Oxford is the third most visited city in England outside of London. With no alternative commercial airports closer than 52 miles away, Oxford is a uniquely positioned airport offering an easy access, fast transit alternative to the stress and hassle of using the likes of Heathrow, the nearest alternative and used by 60% of the local Oxfordshire population. With the M40 motorway being one of the less congested of London’s arterial routes, indeed significantly so compared with the M1 to Luton or the M3 to Farnborough, business aircraft operators are already appreciating a newly enhanced choice, whilst their passengers will likewise benefit from the ease of access. A Kidlington ‘Airport’ rail station has been long approved for development, just minutes away from the terminal, with central London likely to be accessible in under the hour.
Once the busiest single runway in the world, historically dominated by 90% pilot training, movements have now dropped by over 100,000 in the last 10 years. This unique environmental advantage, along with the fact that Oxford lies just outside the London TMA (terminal movement area), Europe’s most congested airspace, offers operators unconstrained, direct access with no slot issues or airspace-related delays.
Prospects for future evolution of the airport are further enhanced when the Thames Valley region is predicted as having the fastest economic growth in Europe, having already seen the greatest growth in high technology, bio-pharma and science research industries in the UK
For further information and enquiries contact:
James Dillon-Godfray
Head of Marketing & Development
Tel: +44(0)1865 290 710
Fax: +44(0)1865 290 605
e-mail: jdg@oxfordairport.co.uk
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