Airport control
US private equity giant Carlyle are to take control of Southend airport in the south of England. The deal involves LSE-listed aviation group Esken – owners of Southend – settling a debt of £193.75 million, after Carlyle claimed Esken had broken the terms of a £125 million loan. The turbulence has now subsided, with Southend set to operate under 82.5% control of the Carlyle Global Infrastructure Fund with Esken retaining a 17.5% stake. It certainly puts a new spin on ‘airport control’. Carlyle will be hoping that the sky’s the limit under its new ownership.