Newcastle Airport investors worried about debt
Posted on December 16th, 2009
Investors in Newcastle Airport are holding a special meeting to seek assurances that their investment in Newcastle Airport is safe.
There is a currently a £300m debt which needs refinancing and cash hit councils want guarantees that taxpayers money will not be used.
Tyneside councils are the majority shareholders in the airport and have benefited from payouts in previous years, however with the debt set to be refinanced in the coming 3 years, councilors are worried about their investment if the new terms do not have favourable rates.
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