DAA ON LONG-LIST TO OPERATE ST LOUIS AIRPORT - The international arm of Dublin Airport operator DAA has made the long-list of bidders to run the St Louis Lambert International Airport in Missouri.
DAA International is one of 18 bidders for the project to operate the facility on a long-term lease. The city of St Louis is the facility's ultimate owner. The airport last year welcomed 15.6 million passengers with total traffic increasing 6%. Budget carrier Southwest Airlines is the largest airline at Lambert, carrying 60% of the airport's total passengers last year. American Airlines and Delta Airlines are the second and third biggest carriers at the facility by passenger numbers. While DAA is competing to secure the contract, it is currently in talks with several potential financial investors to partner them in doing so, according to DAA International chief executive Nick Cole, says the Irish Times. "This is a very exciting opportunity for DAA International as it is a major new market in terms of airport management contracts," Mr Cole said. DAA faces tough competition, including a Canadian pension fund and other airport operators, including Aena International, a Spanish company whose parent operates 46 airports in Spain. Other competitors include Corporacion America Airports, the largest private sector airport concession operator in the world, and Royal Schiphol Group which operates Amsterdam Schiphol Airport among others that collectively handle more than 79 million passengers annually.
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KOLLECT POISED TO LIST IN STOCKHOLM, EXPAND IN BRITAIN - Waterford waste management firm Kollect appears poised to go public in an expected IPO in Stockholm.
The Irish Independent has confirmed that the start-up - which provides online booking for waste collection services nationwide - has registered in Stockholm as Kollect on Demand AG and appointed three board members with expertise in IPOs and Nasdaq. Kollect last week announced that Johnny Fortune has been appointed its chairman with immediate effect. Mr Fortune was previously chief financial officer of Skillsoft, where he played a central role as it became the first Irish company to complete an IPO on Nasdaq New York in 2000. Chief executive John O'Connor confirmed yesterday that Kollect had just appointed Stefan Wikstrand and Maoiliosa O'Culachain to its board. Mr Wikstrand is the chief financial officer at G5 Entertainment, a Swedish mobile game firm which went public in a 2104 IPO in Sweden. Mr O'Culachain was previously a top Ireland-based official for Nasdaq, directing its private business development in Europe. Nasdaq in Europe is focused on Nordic markets, particularly Sweden.
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BA TO REVIEW 'FUEL TANKERING' AFTER PANORAMA REVELATIONS - British Airways has pledged to review its practice of making aircraft carry tonnes of excess fuel to avoid filling up at destination airports, which saves money but drives up CO2 emissions.
Willie Walsh, chief executive of BA's parent company IAG, admitted that using the method - called "fuel tankering" within the industry - was "maybe the wrong thing to do" despite the financial incentive behind the practice, because of its environmental impact. Critics said the widespread use of fuel tankering called into question airlines' commitment to reducing their impact on the environment, says today's Guardian. The information of excess fuel carriage came from a BA insider during a BBC Panorama investigation. IAG recently tried to burnish its environmental credentials with a commitment to become the first airline group worldwide to commit to net zero emissions by 2050. However, documents seen by the BBC showed a recent BA flight to Italy took on board nearly three tonnes of extra fuel: a cost saving of just £40 but which meant an additional 600kg of CO2 was emitted. Speaking to analysts last week, Walsh said BA often did fuel tankering in order to save money, citing the example of Glasgow airport where jet fuel is 25% more expensive than at Heathrow.
