Partner Article

Go-Ahead completes aviation exit

NORTH East transport giant Go-Ahead has severed its links with the aviation market by offloading its airport parking business for £11m.

The Newcastle firm sold its Meteor operations to Vinci Park Services, while its Nikaro security division was sold to Securitas Mobile, it was announced yesterday.

The transactions virtually complete the offloading of the group’s aviation services division, following the sale of the majority of our ground handling and cargo operations earlier in the year and the transfer of most of its remaining ground handling operations at Heathrow Terminal 1 to Menzies on 1 October 2010.

Group chief executive Keith Ludeman said: “I would like to thank all of our employees for their hard work and contribution to Go-Ahead, and I wish them well for the future. We are delighted that Meteor Parking and Nikaro will form part of the future business of Vinci and Securitas. These are strong new owners, who will further develop each business.”

Go-Ahead posted a 24% fall in annual pre-tax profit yesterday, as passenger numbers grew but margins fell.

The group’s profit of £88.7m, which was slightly ahead of expectations, was boosted by a 7.7% increase in revenues from bus ticket sales.

This was posted in Bdaily's Members' News section by Ruth Mitchell .