airports operator PlaneStation has raised around £5.6 million ($10.3 million)
through a share issue to fund improvements at Kent International Airport,
International – previously known as London Manston – has attracted Irish
operator EUjet, which is planning to begin scheduled passenger services from
the airport at the beginning of September.
which has formerly concentrated on managing small airports around the world,
has invested £2 million to take a 30% stake in EUjet.
a statement the airport operator says that, as a result of the issue, its
broker has placed nearly 106 million shares with institutional investors.
company is committing to significant investment in both facilities and
equipment at Kent International Airport,” says PlaneStation. “The proceeds of
the placing will be used to finance this investment and to provide additional
working capital for the company.”
has been struggling to overcome losses and has embarked on a turnaround
strategy under the guidance of new chief executive Martin May.