Desmond’s €1bn airport windfall a mere 10 years in the making

The old saying that you need money to make money certainly applies, but it sure helps when you are also blessed with an instinct for an opportunity.

14th October, 2006

The old saying that you need money to make money certainly applies, but it sure helps when you are also blessed with an instinct for an opportunity.

Billionaire Dermot Desmond can’t seem to put a foot wrong these days, realising his most spectacular public gain last week with the €1.1 billion sale of London City Airport to a US consortium led by AIG Group. Having acquired the airport for €33 million in 1995 (including debt),...

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