Bristol City Council is pondering what to do with nearly £100m it has received from the sale of its 49% stake in the citys airport.
Government restrictions mean it can only be used for debt reduction or capital projects. It plans to use a substantial part to cut its debts leaving its with possibly just £30m for capital spending.
First Group sold its 51% stake in the airport for £101m and £36m in debt repayment. The new owners are the Macquarie Bank Group of Australia and a subsidiary of the Spanish Grupo Ferrovial company.
The Daily Telegraph 21/12/00 page 25, page 27 (City Comment)
The Times 21/12/00 page 22
The Independent 21/12/00 page 16
The Guardian 21/12/00 page 27
