Time now for all us Wiggins watchers to move with the times and start using Planestation, the new company identity. The name Wiggins Group plc has now disappeared from the database at Companies House and Planestation is now listed on the LSE website.

So fellow travellers, forget Wiggins, the name of the game is now PLANESTATION. Lets hope it goes like an express train.

Eujet site up and running for bookings. Good prices on Europe etc.
See you at Manston!!!!!

Nearly all BUYS again today, BID price UP to 4.9p

:-))

One buy for 3 mil @ 5p this morning. I like that!!

In the light of recent events predicting rail strikes, my wish that PTG should go like an express train could well be compromised.

Of course, the fact that there may be rail strikes could well push a few punters PTG's way. After all, 7 to Edinburgh in less than a couple of hours beats the hell out of driving or trying to negotiate an industrial action ridden rail line.

Don't you just love it when a plan(e) comes together!

Lots of blue today looks like plenty of buys in anticipation of next months
promised news on Liverpool. Hope the 7 to Edinburgh is only a temp Socs, that would certainly run away with funds.

Optomistic
Not PTG's funds though. Bums on seats, that's what counts. Did you notice parking charges? 5 per day or 20 per week. Should bring in a good income even if they are the cheapest airport in UK.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2004/05/23/ccjack23.xml

Edmond Jackson Telegraph 23rd May 2004

Don't fret too much. Don't try to be clever

It looks like a bumpy few weeks ahead as markets grope for values that take account of new

and different risks.

The easy profits of earlier this year are over. Of course, potential buying ideas still arise almost daily, but the question of what to sell to finance them constrains me.


Should I reduce my exposure to the oil industry to buy into hard-hit shares? Oil shares have done well and experts keep citing the risk of a further spike in oil prices upsetting the global economy.

During the 1991 Gulf War experts alerted us to a similar risk. As now, this was a possibility rather than a probability. But oil markets are inherently volatile and when you hear of such fears, it can mark a current high point.

Oil prices eased and stock markets rallied mid-week on talk that Opec would raise production.

For private investors, the risk with trying to trade on the basis of such news is that you end up on the wrong side of market shifts. Even hedge fund hotshots get some trades badly wrong.

As a long-term investor, I try to balance my portfolio roughly in line with the big picture, with occasional contrarian moves. I ignore what is just market noise. It is so easy to get tempted just when a short-term trend is about to reverse.

I am not "protecting" my portfolio with derivatives (such as contracts for difference).

Trying to outguess volatility seems a recipe to lose money; it's an inherently speculative activity.

On balance, I don't see oil prices above $40 a barrel as sustainable, but this uncertainty is damaging confidence in 2005 forecasts for companies generally. Shares may remain under

pressure this summer.

The prospect is not pleasant, but it's closer to economic reality than the market complacency earlier this year. Brokers are prone to lapse into a happy consensus of predicting earnings growth. After all, their role is to sell stock. Financial life, unfortunately, is rarely such a steady progression. Expect jolts to market confidence.

One problem with trying to hedge via oil shares is that they aren't rising commensurately as others fall. Oil companies have themselves hedged an element of production at lower levels, and the stock market expects oil prices to retreat eventually. So while I think a portfolio should be at least 20 per cent weighted in smaller oil and gas companies, one must be steeled for volatility.

Unless you have already increased your cash position, or anticipate trouble for particular shares, I would ride out the current swings. Don't fret or try to be clever.



A new chief executive in a recovery situation is among the most potent of factors that can drive change.

Thus, when shares in PlaneStation fell from about 5p to 4.25p, with the market,

I added to my stake.

Institutions that invested heavily in last December's 4p-a-share placing (and open offer) were reported to be impatient about the lack of news on property sales. So the chief executive was replaced. In situations like this, directors may sweat to line up progress; a new boss gets appointed and takes about six weeks to settle in, during which there is scant news. Then it starts to flow.

A first sign of PlaneStation opening up was the news last week (accompanied by a press conference) of the company taking a 30 per cent stake in EUjet, a start-up airline due to begin flights from Manston airport in Kent. This should help Manston market itself to other airlines, and if its business model can be made to work then surrounding land values will be enhanced.

I recognise risks but was encouraged that the new chief executive - a recovery specialist - judged that the prospects merited extending his commitment to run the company from nine months to two years. Implicitly, he recognised upside in the shares by negotiating a total of 25m share options exercisable at 4.47p. This was confirmed seven weeks after his appointment, ample time to assess PlaneStation. Any capable director also investigates a company before joining it.

As I continue to invest money in the shares, guessing the likely scenario, I don't like a situation where the chief executive is geared to the upside but none of the downside risks.

Furthermore, this is another example of where the exercise price of a major option deal is struck ahead of anticipated news.

A higher threshold, based on return to shareholders, will be set for the second tranche of 12.5m options. But as a shareholder one feels in a different boat to the boss, when corporate governance is meant to align interests.

The remuneration committee ought to clarify how this is being achieved when seeking shareholders' approval for the options.

The way various directors and managers are being cleared out has a flavour of autocracy.

For example, on Tuesday a non-executive director was sacked "after a loss of confidence by the executive board". But the initiative to hire and fire non-execs must not come from executive directors (even though in this case it was supported by the chairman). Non-execs sometimes need to be a thorn in the sides of management if they are to do a proper job.

Such are the niceties of corporate governance. A raw truth about autocratic chief executives is that they can make a lot of money, especially in turnaround situations.

My approach is to hold PlaneStation shares firmly and be vigilant.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2004/05/23/ccjack23.xml

Thanks for posting this apple - must have missed it; makes interesting reading.

To get some idea of how rapidly the Manston plans are advancing, look at the Planestation TravelStation offerings on the link below:

http://www.travelstation.co.uk/dynamic/manstonpackages.htm

You can see how quickly the passenger flights will build up. All we want now are the passengers to fill the aircraft. Fingers crossed that EUjet and PTG get the word out quickly. Clearly they will miss out on this years main holiday period but it will be very interesting watching how well supported the flights are.

Thanks Socrates

An article I found in Kents business news, may be interesting.

At www.kent-online.co.uk//business/news.asp?_article_id=14866

Thanks hotrott

Nearly all BUYs today.

Protected trades at 5p, announced just after the offer price rose, must have been buys.

Positive start this am though little volume - is some news leaking out i wonder. currently up 7% but the spread has now widened to 5.1 vs 5.75. mm's happy to pick up any stock but reluctant to sell any on?

Fundamentalist

Yep, the mm's appear to know something.

I saw on another BB that PTG presented an upbeat message to analysts. Don't know when or if it's true even.. However, perhaps Martin May also gave an outline of his plans for PTG as well and the news is starting to leak out ? Hope there's good press over the weekend and SP continues to strengthen.

Those lovely warrants are up 8% as well today.

Al

2.5 Million crossing trade at 5.75p

& then another 2.5 Million crossing trade at 5.75p

This share has woken up I think.

Yes apple PTG has been in the doldrums far too long. Liverpool announcement promised next month, no doubt people have been fishing around in the right areas, as we all know secrets are 'sometimes' difficult to keep. Snippets of info could be creeping onto the market. Or then again it could be that the market is at last realising the huge potential for PTG
opto

My Brother owns shares in this company that he bought via the bank, he today received at letter from Planestation it said the following.

Plans to build a 2000 space car park and railway to the airport, interest in building an hotel on site.

Florida Melbourne airport already entered in an agreement to develop international air traffic.

Warren Buffet chairman of Berkshire Hathaway, 2nd richest man in the world reported in saying "This is the 20th century greatest long haul investment to invest for at least 5 to 10 years. Overtime only a few companies meet these standards so when one qualifies you should buy a meaningful amount of stock. You must resist the temptation to stray from your guildlines. If you are not willing to own stock for 10 years you don't even think about owning it for 10 minutes."

Other information already Known via news reports.

I will keep you informed as and when he receives more mail.

Have a good weekend everyone.