Recent News - Up and away

I recently valued a small airport in Germany. While major international airports such as Heathrow would take weeks and maybe months due to the quantity and complexity, this particular assessment took just two days.

However, my take-off wasn’t completely turbulence free. The temporary buildings were difficult to value because of the additional fitting in, fitting out and shop units. Subsequently, the job was more complicated than it could have been.

From the client’s perspective, insuring a small commercial airport whose main airline is a low-cost carrier has its own concerns. If an airline withdraws its services, should all these buildings be replaced if a new one can’t be found? This was highlighted by the problems suffered by Kent International in 2005. The airport went into administration when short-lived budget airline EUJet airline withdrew its services.

But then, it is up to our clients to consider what might happen in the future. We are just saying ‘if you have to replace what’s here, what would that cost you?’.