Desmond reaps rewards of London City Airport gamble

Most airline passengers feel relieved when leaving an airport after grim journeys through security controls and baggage queues.

26th August, 2006

Most airline passengers feel relieved when leaving an airport after grim journeys through security controls and baggage queues. But Dublin billionaire Dermot Desmond will be glad to see the back of London City Airport for entirely different reasons.

The financier stands to pocket upwards of stg£400 million (€580 million) if he proceeds, as expected, with the sale of the business that he acquired for just stg£25 million in 1995.

Desmond recently cashed in his...

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