"TBI remains upbeat despite challenges"

Saturday, August 2, 2003

TBI remains upbeat despite challenges
Newsletter


AIRPORTS operator TBI, which owns Belfast International Airport, yesterday
reported a good start to the financial year with traffic growing at each of
its four European airports in the first quarter.

But the firm, which also runs Luton and Cardiff airports in the UK as well
as Stockholm-Skavsta in Sweden, warned that trading conditions remained
challenging.

Speaking to shareholders at the London-based groups annual meeting, chairman
Stanley Thomas said TBI should see the benefits of improved facilities at
its airports. New retail and catering outlets at Belfast have been completed
in anticipation of expansion of low-cost airline operations at the airport.

TBI has previously pointed to the relative dominance of budget carriers at
its UK airports as protecting it from the air travel slump caused by events
such as the US terror attacks and the Iraq war.

Last month, its quarterly passenger figures showed passenger numbers surged
by a fifth, boosted by the no-frills travel boom.

TBI said the success of no-frills carrier bmibaby, which established a
second base at Cardiff in October, has speeded up plans to build a new hotel
and leisure complex at the airport.

Planning permission has been granted for a 150-room, low-cost development,
including 400 carparking spaces, on a business park next to the airport.

Expansion of the terminal at Stockholms Skavsta airport is under way to
accommodate more passengers anticipated as a result of Ryanair establishing
a base at the site.


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