Eiser Infrastructure injects equity in Belfast airport

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Eiser Infrastructure injects equity in Belfast airport

According to sources, Eiser Infrastructure Partners has injected an additional £30 million (US$46 million) in the George Best Belfast City Airport split equally between increased share capital and a loan.

Additionally, the firm, which bought the airport in 2008, has secured borrowing facilities of £46 million (US$70.6 million) for the airport.

The reason for the capital injection is that in 2014, operating profit at the airport felt by 7% due to a raise in operational costs and interest repayments rates. At the same time the airport turnover increased to £19,801,000 up marginally from £19,771,000 in 2013. Additionally, the airport has handled a total of 2.56 million passenger, which represented an increment compared to 2.54 million across the previous 12 months.

The airport's Chief Executive, Brian Ambrose stated:

"We expect 2015 to be a record year in terms of passenger numbers and profitability with the arrival of KLM to Amsterdam and Vueling to Barcelona plus further expansion of the Flybe network which witnessed the commencement of the route to Liverpool.

"We will continue to invest in our infrastructure in 2015 aimed at improving still further the customer experience with significant capital investment and are confident of growing our direct European network."

George Best Belfast City Airport is a single-runway airport in Belfast, County Antrim, Northern Ireland. Situated adjacent to the Port of Belfast, it is 5 km from Belfast City Centre. The airport began commercial operations in 1983.

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