This site is not an unviable one
"MAY I make one correction to Robert Craig's letter on Filton Airfield? (Wednesday August 7th). Filton Airfield does not need "turning around". It has always been profitable.
The accounts for BAE SYSTEMS (Aviation Services) Ltd, for the year ending 31st December 2000 show a profit of £6,130,000.
For the year ended 31st December 2010 the accounts show profits of £1,294,000. Despite the continuing policy of decline in 2011 the airfield made £517,000 profit; and as Mr Craig correctly stated this increased to £1.6 M in 2012.
Why were there no profits in between? Because on 1st April 2000 they transferred the assets and liabilities of The Aviation services division of BAE SYSTEMS (Operations) Ltd into the company. This company was failing and in due course was shut down. As a result the airfield, BAE SYSTEMS (Aviation Services) Ltd, made a loss of £13,522,000 in the year ended 31st December 2001.
FREE home energy survey - BEAT THE ENERGY PRICE CRUNCH!View details
Call us on 01271 323309 and book your FREE home energy survey during December. Let us help you reduce your energy bills as well as your carbon footprint.
Valid until 20th Dec 2013
Consultation is completely free
No obligation and impartial advice
Contact: 01271 440974
Valid until: Friday, December 20 2013
So by moving the losses of a failing company into the airfield company they made the airfield "unprofitable". Despite the fact that they actively forced out companies who wanted to use the airfield it continued to make money until by 2010 it had paid off the losses.
Mr Craig is unwittingly continuing the myth that Filton Airfield is unviable. It is not.