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Last Updated: Thursday, 30 June, 2005, 18:23 GMT 19:23 UK
Passenger levels hit airport firm
Manston airport
The Kent International Airport site is at Manston
A passenger shortfall has led to the operator of Kent International Airport (KIA) to sell off part of a nearby business park.

The PlaneStation Group is in talks with one company for the sale of a 75% interest in the Kent International Business Park, Manston.

The company added EUjet services to KIA from September 2004.

However, passenger numbers have been lower than anticipated so PlaneStation is intent on selling other assets.

A statement said: "The cash requirement within EUjet will be greater than originally planned [because passenger numbers] will fall below planned levels during its first year of operation".

EUjet aeroplane
PlaneStation completed its acquisition of EUjet in January 2005

A spokeswoman said Kent International Business Park was a "non-core property" and was therefore being sold to raise money for the core areas of KIA and EUjet.

The company will however keep a 25% interest in the business park.

PlaneStation said increases in oil prices had hit profits.

The share price hit a low of 4.75p on the announcement of the business park sale, but PlaneStation said EUjet is making progress at KIA despite the disappointing numbers of people getting on board.

The 300,000th passenger has flown and the 400,000th booking has been taken, said the company on Wednesday.

The statement added that, in a previously unknown market, PlaneStation now has "a good understanding of the nature and size of the market from KIA for low cost airline travel".

PlaneStation also runs airports in Europe and America.


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