Warren Buffett to Buy Airport

[FastJP4]

Buffet (obviously) is a pretty intelligent guy when it comes to creating a profit. I highly doubt his interest is limited to the narrow band of buying one airport. I would imagine he has a much larger gameplan in mind - and this is but a small part - a beginning point for another phased growth.

Personally I think the idea of an american buying up some foreign soil is pretty cool - I sure get tired of seeing how much american soil is owned by foreigners. Hope he does it, and is able to employ his masterplan.....whatever that may be.

I wonder if he'll leave any other scraps for the other fracs?

 

[jppt2000]

Put it on a kaiser roll with some brie and you've got a deal!

So it was you and a friend in those videos!

 

[Mike Jenvey]

Never mind some teenie-weenie ads prior to the Super Bowl, this is (hopefully) the confirmed deal:

1 February 2008 -- Press Release


NETJETS EUROPE SIGNS AGREEMENT TO ACQUIRE EGELSBACH AIRPORT

• Completion pending approval of full shareholder parliaments in March 2009
• Pledges to exclude airliners and other large aircraft

Europe’s leading business aviation company, NetJets Europe, today confirmed that it has signed an agreement with shareholders of Hessische Flugplatz GmbH Egelsbach (“HFG”), the operator of Frankfurt Egelsbach airport in Germany, to acquire the company. The agreement is subject to approval by the municipal parliaments of each shareholder at meetings to be held in March 2009. If ultimately approved, the acquisition would be the first of its kind for NetJets. It would increase the company’s presence in a major financial market within Germany while providing its customers with access to an alternative airport to Frankfurt Main which is dominated by scheduled airlines.

In connection with the proposed acquisition, NetJets agreed a series of operating conditions with the shareholders for the comfort and benefit of communities surrounding the airport. Such conditions include the observance of current air traffic movement limitations, maintaining current airport operating hours and banning of airliners and scheduled flights from the airport. In consideration, the municipality shareholders agreed to support NetJets development of Frankfurt Egelsbach airport into a modern business aviation centre serving general aviation and NetJets fleet of 6 to 14 seat passenger jets.

NetJets will meet residents in the communities of Egelsbach and Langen on 11-12 February to answer questions about NetJets’ planned airport investment. To foster open dialogue and ongoing relations with the local residents, the company plans to create an Airport Advisory Council consisting of community and company representatives.

NetJets expects to bring significant economic benefits to Egelsbach and the Frankfurt Rhine Main Region including jobs at the airfields as well within the service and airport development sectors. Additionally, more than €100 million of previously announced commercial property development near the airport is dependent on Egelsbach’s evolution into a sophisticated business airport.

Scott Forbes, Director of Corporate Strategy NetJets Europe said: “We are committed to being a good neighbour and local partner to Egelsbach and the surrounding communities. We are actively engaging in extensive consultation with local business, civic and environmental leaders to ensure that local concerns are addressed.

We are in a unique position to invest in airfield improvements, without needing to increase flight movement capacity. Unlike most airport operators, the NetJets business model is not dependent on increasing traffic numbers. The proposed acquisition demonstrates our willingness to invest for the benefit of our fractional owners while providing a service for other business aviation customers seeking to do business in the Frankfurt Rhine Main Region.”

 

[Semore Butts]

To put it into perspective

Isn't Buffet buying an airport like a person making 100K a year buying a 5 gallon aquarium?

 

[CALRepublic]

I have a feeling it was Santulli's idea to buy this airport. My guess, Buffet gave the "go ahead", but I'm sure Santulli is behind this, and I'm sure he's got his reasons

 

[fischman]

I highly doubt Mr. Buffett had ANYTHING at all to do with the actual aquisition of the airport.

My understanding is that he wants little to do with the day to day operations of the companies owned by BH. Why mess with a good thing? Let the leaders do their jobs.

 

[CALRepublic]

I wonder if Mr. Buffett even knows he's about to buy an airport in Germany.

 

[jehtplane]

I have a feeling it was Santulli's idea to buy this airport. My guess, Buffet gave the "go ahead", but I'm sure Santulli is behind this, and I'm sure he's got his reasons

Yes he has his reasons. NJ europe can't get the 2/3'rds of the departure and arrival slots they request, so they invest in an airport to guarantee the slots.

Ok, I know this whole thread is about Captain Dad trying to make everyone know that his company is the master of the universe, that's nice. Yes NJ's is the greatest and we are all totally impressed, yipee.
My question is


WHO CARES THAT NJ EUPOPE BOUGHT AN AIRPORT IN FLIPPIN GERMANY?

 

[Mike Jenvey]

<<<< who Cares That Nj Europe Bought An Airport In Flippin Germany?>>>>

No need to shout!

To answer the question, I do! And if they do lengthen the runway to allow larger jets, then perhaps NJI might also care, as they could be going there a lot!

It's not everyday that a company buys an airport, so it's significant aviation news.

 

[CALRepublic]

Ok, I know this whole thread is about Captain Dad trying to make everyone know that his company is the master of the universe, that's nice. Yes NJ's is the greatest and we are all totally impressed, yipee.

If Xojet, CS or FX were buying an airport in Europe, and one of their pilots posted it here, would that bother you as much??? probably not

There's a thread going on "Xojet reports good".. what would happen if one of us started a thread "Netjets reports good"??