Airport

Elon Musk plans to build a new airport near Austin, Texas

Elon Musk, the CEO of Tesla and SpaceX, may get to construct his own airport outside of Austin, Texas, according to media sources. Musk is reportedly working on plans for a brand-new private airport and Teslarati reported citing Austonia. These sources claimed that the conceptual ideas have been confirmed, despite the fact that little is known regarding the date or even the exact location.

It is unknown how much space the CEO would require for a private airport, although the Austin Executive Airport has community hangar space that is more than 130,000 square feet and the runway is 6,025 feet long. The entrepreneur’s fleet of corporate jets, which includes a Gulfstream G650ER, two Gulfstream G550s, and a Dassault Falcon 900B, would probably use the new airport. Additionally, Musk ordered a larger Gulfstream G700 with capacity for 19 passengers.

It was mentioned in the report that constructing an airport would take time. EPA and FAA approvals are needed for airports. While this was going, Tesla reported second-quarter revenue of $16.9 billion, a decrease from the first-$18.8 quarter’s billion. Tesla’s second-quarter earnings came in at $2.3 billion, which was less than its first-quarter record of $3.3 billion.

Airport

Three Major UK Airports Up for Multi-Billion Pound Sale

Three major UK airports, including London City, Birmingham, and Bristol, are set to be sold in a multi-billion pound deal as their Canadian owner, the Ontario Teachers’ Pension Plan (OTPP), seeks to capitalize on a booming air travel market.

The OTPP is in talks with minority shareholders about selling its stakes in these airports, as well as its holdings in Brussels and Copenhagen airports.

Current evaluations suggest the combined value of the five airports exceeds £10 billion, with OTPP owning between 25% and 70% stakes in each, potentially bringing the total sale to over £3.5 billion.

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The move comes as global aviation experiences a strong recovery, driving increased demand for air travel, particularly across Europe. The OTPP, which holds a significant portion of its portfolio in these airports, is in the process of offering its shares to co-investors with a 30-day “right of first refusal” period.

Analysts speculate that the sale could trigger a chain reaction, prompting other stakeholders to consider selling their shares, particularly if a new buyer seeks a controlling interest.

Bristol Airport, for example, has outlined an ambitious master plan to expand its capacity from 12 million passengers per year to 15 million by 2036, addressing the growing demand in the region.

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Meanwhile, London’s Heathrow and Stansted airports have seen record passenger traffic, further underscoring the sector’s recovery.

As the 30-day period progresses, the OTPP’s decision could spark a flurry of activity, with other investors such as Australian giant Macquarie reportedly showing interest in the airports.

This potential sale is set to reshape the future of UK airport ownership and investment, as the aviation industry continues to recover and grow.