London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Southend Airport was a success pre-pandemic and is coming back. Everyone local wants this to happen as does the local council/ London to Liverpool St. railway/ local business men, etc, etc. I will also support this share and time will tell if my investment here is worth it - however for me at the moment not everything revolves around a short term gain, as I also like to support local businesses.
I am sure the negative input on here from one or two only makes the Company Management more determined to try and make this a success. To me the Company is surprising with the regularity of the updates and additional routes to an ever increasing popularity extent. The problems the large Airports are having gives Southend a fair chance in my opinion to take more on and the Airlines will soon see an opportunity here I am sure. By what Ryan Air have been saving they could be back here soon too. I will continue to invest with my gut feeling which over the past 10 years has been very successful. GLA.
Hi Supercharger
You still dont get it do you? The continued expansion of passenger numbers through Southend just increases their losses whilst they are below the break even point of 3 million passengers.
You keep portraying every new route as a success - when in reality it just increases the cash burn of the company.
You question why Southend isnt used more to ease up congestion in Heathrow / Gatwick / Luton ........... does the reality not finally strike home that Southend is a top up location and it is not the great white hope you believe it is.
You speculate that easyjet will buy it - but why would they and at what price.
This company is on the verge of collapse and the ownership of Southend is determined by the CarlyleGroup who have security for their bond. Stop trying to misinform other potential investors about how rosy everything is - it really isn't.
You a serial ramper of this share - obviously to protect your own investment, but delusion is not a great guide of the true reality - you should be more responsible as people might believe your hopeless optimism and send their good money after your obvious failed investment.
So - in the interest of balance I have a prediction that Esken will fail and investors will lose their money - please do not invest your hard earned money in this basket vase
Why not use S/end more to ease up congestion from Heathrow/ Gatwick/ Luton etc?
I am awaiting the Jersey route to be introduced if I am honest - this was the most popular of all pre-pandemic flights and talks are ongoing to reintroduce. Hopefully a full announcement soon! But we are moving in the right direction and the current expansion rate is very encouraging. I can even see Easy jet buying the airport if the shenanigans continue at Heathrow!
The new routes are of course encouraging but they are still a long long way from break even, never mind profitability.
It needs 3m passengers a year to achieve breakeven, even with the added routes they will be lucky to achieve a quarter of that. The new management team at the airport seem to be doing well and certainly going in the right direction. It's whether they can do it before the cash runs out?
& the share price is down? I do not understand the market sometimes. This was one of the most popular routes pre-pandemic and will certainly help Southend passenger traffic numbers with offers from Easyjet from £22.99 a flight!
Easyjet I understand have announced today as soon as October they will now be Flying in addition to all of their other new routes to Alicante for prices as low as £22.99 -this was one of the most popular flights for Southend pre-pandemic and will sure fire bring in larger customer numbers through Southend Airport and great news for Esken and its shareholders-well done - must make this a strong buy!
Pre covid Southend / ESKN appeared to be making progress and I felt was a fair bet to progress into a viable company based on air travel and the bio mass business. They seemed to be overcoming poor management decisions and the greed of one board member. Then covid started at the worst possible time for eskn in its recovery phase.
Now for the future - management appear to be trying and capable , debt a major issue, time an issue ie the business has to pay wages, interest on dept at the same as developing a robust business before time / cash runs out. The airport can make money in the future, passengers numbers slowly increasing as well ancillary income as announced today. Will eskn make it? I hope so but time is against it. Good luck eskn management - lots of long term share holders (me included) hope so.
Oil Spill Response have announced that London Southend Airport is the new operational base for their two Boeing 727-200RE aircraft, previously based at Teesside Airport. Southend was chosen because of its "unique ability to offer side-by-side hangarage" for the aircraft. OSR provide operational capacity to disperse oil pollution in the sea by low-level (150ft) spraying of oil dispersants.
RNS Number : 2718I
Esken Limited
03 August 2023
ESKEN LIMITED
("Esken", the "Group" or the "Company")
Completion of sale of investment in Mersey Bioenergy
Further to the announcement on 20 June 2023 of the conditional sale by Esken Green Energy Limited of its investment in Mersey Bioenergy Holdings Limited and its wholly owned subsidiary (together "Mersey Bioenergy") to UK Waste Resources and Energy Investments L.P., a member of the Evero group (formerly known as Bioenergy Infrastructure Group) for a total cash consideration of GBP9m (the "Disposal"), Esken, the aviation and renewable energy group, announces that the Disposal has been completed today.
The consideration of GBP9m was paid in cash on completion, and the cash will be used for repayment of debt and working capital purposes.
This Disposal does not impact the Mersey Bioenergy Fuel Supply Agreement with Esken Renewables Limited, which expires July 2035
Nice to see a little uplift today. Hopefully not just a blip!
Even better news is coming in that Balkan Holidays are launching from Southend Airport as a new operator adding Bulgaria to a new list of destinations from Easyjet. So more than one operator is back at Southend extending options for travellers. This is great news see link for todays release as Southend returns to being a commercial operator with multi destinations :- https://londonsouthendairport.com/news/london-southend-airport-announces-route-to-bourgas-bulgaria/
Big buyers now coming in - that's 300,000 bought in a short time? Up 25%! in addition to yesterdays big increase! Does someone know something is happening? Or are additional routes still coming in? I know they were after set scheduled routes to Jersey -perhaps this is on its way?
Southend Echo now reporting trips to Lap land Finland being added from 2024 to the other news routes.
So all our Christmas's have come early -haha!
US -Inflation core rate just announced at just 2% will help the whole market today recover some lost ground. GLA.
To be honest I have felt recently what with other airports having problems that this would help Southend. It dies not surprise me that the London City airport cannot be extended. The Mayor can hardly extend flights into the City and continue with his ULEZ ambitions? I also saw the other day due to problems Easy jet were having at Gatwick they cancelled thousands of flights, which might make them think further about using Southend for more?
Presumably this can only be good news for Southend.
John Upton, London Southend Airport CEO, said: "Today marks another significant milestone for London Southend Airport as we proudly announce the revival of winter ski and city break flights to Geneva.
“The new route brings an added dimension to our already growing list of destinations with airline partner easyJet, alongside Malaga, Faro, Amsterdam, Paris and Palma de Mallorca.
ali ***ward, easyjet’s uk country manager, said: "we are really pleased to be launching another route from london southend to geneva this winter, which will be popular with those hitting the slopes on winter ski holidays, exploring the mountains, but also as a global hub, it will appeal to those travelling for business too.
The last RNS said everything is for sale-debt ridden and tired management team who inherited a dogs breakfast
I see real value here and a quick expansion in Southend Airport as it now continues adding routes. Southend Echo has almost a daily coverage in excitement. I have seen this morning yet another route has been added which is to Geneva in Switzerland. They already have recently added Paris and Amsterdam with success, whilst offering trips to the sunnier holiday destinations. As I understand it other destinations are being lined up too (shortly to follow). The Bio mass Company adds revenue but to me real long term value is with the Airport and its infrastructure / location. My broker has this as a value of 12p a share so still a great buy whilst it returns to form. DYOR. GLA.
Hi Supercharger
I admire your attitude to risk - its basically a race to sell the biomass division at a sufficient number to buy enough time to sell the Airport before the ongoing airport losses kill the business.
You are effectively banking on the sale number being big enough to get you 12p in a break up scenario.
However one point of risk you should consider is whether prospective buyers of the Energy Biomass Division would pay enough of a premium to make your desired outcome happen.
All Esken have to sell is the future recurring revenues of its Biomass Division which is circa £10 million EBITDA. However they are not going to survive for years and thus buyers might take the view that rather than pay a premium they should just wait for it to fall over and take over the contracts.
Another significant risk is that 500k of their 1.6 million tonnes sold is provided by a third party and that makes the potential sale of the Energy business much more complicated.
The other point to consider is that there are significant liquidated damages clauses in the biomass contracts. Esken, previous Stobart Biomass, only won those contracts because of their net worth - ie. their counterparty financial strength as the majority of its competitors then were relatively small waste businesses. The biomass plants will be looking very nervously at the weak counterparty strength now of Esken and could be in crisis management discussions as to how to de-risk their current unstable supply chain.
The biomass plants derive their revenue from selling Megawatts and generating ROCs - and they only get these if they are generating electricity and being supplied.
So my point in conclusion is that just because the Energy division is doing well with its EBITDA, don't assume a sale will be easy / forgone conclusion because there are other solutions that are much cheaper for potential suitors by waiting from the sidelines.
Its going to be an interesting watch - good luck, Haz
Classic Porsche not sure you are right TBH. My broker is the largest UK bank and one of the largest in Europe/ The World. They hold Esken themselves and rate it with a value of 12p a share (as of last week). So to me it is a share to put on my risk side, and wait and see. Out of 3 market makers 2 have it as Strong buy and I as a buy - none have this as a sale? So for me a risk worth taking supported by my broker comments. Time will tell if they are right I suppose but I am in no rush. This share does also have a large number of corporate investors Morning star will list for you their indentity.
Another uk listed pile of shyt ex dividend company that has wiped out capital….see vod/bt/direct line etc etc…..pretty much all of them….just junk….uk uninvestable.
TruthF - you want to study Wiki to find more of the history for Esken as it exists today. No relevance to us here in the new Company formed. However you will be interested in the other interests Esken have and how there recent statements from the Esken web indicate how they intend to return to the main index after the Bio Mass and Airport considerations and offers (if any). DYOR.
Hi Truthfactory - whats ESL and what is the relevance to Esken? Can you expand please
Thanks Haz