London City confirm Southend Airport bid
24.04.08
London City Airport has confirmed that it is working on a bid for Southend Airport, which could cost it in the region of £100m. The Docklands hub has been backed by Insurance giant AIG - one of its major shareholders - to form a consortium to give it the financial muscle to buy the site and build new road and rail links.
The London City consortium plans to invest in a terminal and runway facilities, as well as the long-awaited airport rail station at the Essex airport. Its development plan also includes scheduled passenger and freight services and an expansion of corporate flights - plans similar to those it currently operates.
A spokeswoman for London City Airport said: ‘Our intention will be to replicate the success of the London City model at Southend. The consortium will make the most of technical expertise of a range of partners. As well as AIG, these include Global Infrastructure Partners, banking advisers Greenhill and developer the Colonnade Group. It also includes John Laing Projects, which deals with transport infrastructure.'
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