Council chiefs unable to accept terms for proposed deal from Horizon Aero Group

There are serious questions over what impact the sale of Gloucestershire Airport falling through will have on the City Council’s financial recovery plan.

Negotiations had been underway for more than eight months to sell the 375-acre site in Staverton which is jointly owned by Cheltenham Borough Council and Gloucester City Council.

There has been growing concern in recent months and suggestions that the deal, worth more than £25m, was in trouble and would fail.

Suggestions that the deal was in trouble after missed deadlines and delays in completing the sale were repeatedly dismissed.

Council chiefs could not say earlier this month if they were optimistic or not that the sale would be completed.

But just over a week later, they finally announced in a joint statement that the deal had fallen through.

Council chiefs said they were disappointed they were unable to accept the terms from Horizon Aero Group, their preferred bidder.

They said it had moved significantly away from the original bid prospectus, and recognise that this news will be disappointing for many people who had hoped for immediate certainty about the future of the site

Reacting to the announcement, Conservative group leader Stephanie Chambers (C, Quedgeley Fieldcourt) said the collapse of the sale at such a late stage is “devastating”.

“Especially when the council was relying on the cash injection to help protect local services,” she said.

“[Council leader Jeremy] Hilton has previously argued that delays reflected a very detailed process that would deliver the best outcome. The result speaks for itself.

“This has dragged on, missed deadlines, and ended in failure, creating uncertainty for businesses, staff, and the wider local economy.

“Now we need answers, not excuses. What changed, when did it change, and why were opposition councillors not properly kept informed as the deal unravelled.

“Residents deserve facts, not spin, and a clear plan for what happens next.”

She said her group will be calling for a wide ranging public consultation to shape the future of the airport.

“This is the moment to be bold, bring forward fresh investment and jobs, and make the airport a true catalyst for growth, innovation, and pride across our whole region,” she said.

Councillor Terry Pullen (Moreland), who leads the Labour group in Gloucester, said he does not know why the airport sale fell through but is concerned about the “awful lost of time and money” wasted on the process.

“I understand that consultants fees alone were in excess of £200,000 and I expect the final figure allowing for legal fees to be considerably more than that,” he said.

“This money could have been far better spent on essential council services.”

He also says the implications for the council are “serious and long reaching” with no “single plan B but a series of plans”

“No one is saying what they are,” he said.

He said what is most worrying is the expected income from the sale was a significant factor in paying off the £15.5m emergency bailout loan the City Council has secured to avoid becoming effectively bankruptcy.

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“This will now put the council in an even more precarious financial situation and may have an effect on public services,” he said.

“Gloucester City Council now needs to have a serious rethink about its plans for the future of the airport.

“A full economic impact assessment needs to be carried out to determine the best use of the airport site in future. It’s time for some more radical thinking.

“The airport is running at a loss and it is unfair to expect council tax payers to keep bailing it out.”

Meanwhile, Community Independent leader Alastair Chambers (Matson, Robinswood and White City) said he believes council chiefs have been aware the airport deal would not go through for at least a month.

He also believes information was withheld until after the City Council secured its bailout from the Government.

“If ministers had known the airport deal had collapsed, there is a real possibility that the financial support request could have been rejected,” he said.

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He also asks how the council intends to balance its finances going forward if it was relying on its share from the airport sale.

“Residents deserve honesty and transparency. Instead, they appear to have been kept in the dark while critical financial decisions were being made,” he said.

“Once again, public trust in the council’s leadership has been damaged.”

In Cheltenham, People Against Bureaucracy Councillor Stan Smith (Prestbury) said the collapse of the airport sale came as no surprise to him as the process was taking so long.

However, while he sits on the overview and scrutiny committee which looks into airport issues, he said he was kept in the dark.

He said he was not directly informed about the sale falling through but found out about it reading Gloucestershire Live.

“I’ve been waiting for it to collapse, to be honest,” he said.

“But I didn’t get notified. I didn’t know anything about it until I read about it on your newspaper’s website.

“They didn’t let me know. I have a problem with them letting me know anything.

“I get rather frustrated about it. I’ve had my say to the council and said I may as well talk to a wall.

“They’re restricting me from doing my job but it isn’t going to get me down.”

However, he believes the sale falling through will affect the City Council more than the Borough Council.

“I anticipate that it was money they were looking for to bail them out,” he said.

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“The council will do what the council does. The Lib Dems will do what the Lib Dems want to do and everybody else can be told what they want to be told in snippets. It’s a bad way really.”

Borough Council leader Rowena Hay (LD, Oakley) said they are disappointed they couldn’t reach an agreement on a sale of the airport after a long period of time.

But it is their duty to deliver best value on the sale of the airport.

”We fully appreciate the concern this will cause, particularly for those employed at the airport who will have worked hard to support the sale process,” she said.

“As we move forward, we are committed to continued engagement with staff, operators, tenants and key stakeholders to discuss the future and reach a positive outcome for Gloucestershire Airport.”

City Council leader Jeremy Hilton (LD, Kingsholm and Wotton) said the news is clearly disappointing as it would have provided a strong future for the site.

“I fully recognise that people hold different views about the potential uses of the site, but our responsibility is to take a measured, evidence‐based approach that leads to the right outcome for the long term,” he said.

Developer says scheme could support hundreds of jobs

A developer plans to build giant logistics sheds next to a motorway junction which they say would support 380 jobs.

Peel Land is working on plans for 323,000 square feet of new employment space on green land close to junction 4 of the M61, close to the border of Bolton borough with Salford.

Peel is the same developer behind the controversial Astley Business Park just a few miles away in Tyldesley, which has come under fire from nearby residents.

That 350,000 sq ft logistics site is all but complete. Opponents have criticised the huge scale and appearance of the ‘towering warehouses’.

A scoping report prior to a full planning application, has been published by Bolton council for the Junction 4 development.

If approved, the development would sit next to the Logistics North employment park, created by Harworth Group at the former Cutacre surface mine.

Logistics North is one of the largest developments of its kind in the country, having delivered more than three million sq ft of commercial space since receiving initial outline planning consent in December 2013.

Companies operating there include Aldi, Amazon, Lidl and Whistl, who between them employ around 5,500 people.

A spokesperson for Peel Land said: “Peel Land is preparing a planning application for a new employment development on land at Junction 4 of the M61, adjacent to Logistics North.

“The proposals would support up to 380 jobs across a range of roles, helping to create new employment opportunities for people in Bolton. The scheme sits adjacent to Logistics North and within the Northfold Growth Area, identified by Greater Manchester Combined Authority as a key location for employment and economic growth.

“The aim is to bring forward new jobs and support long-term investment in Bolton and Hulton.

“This proposal relates specifically to land at Junction 4 and is separate from other applications being progressed in the wider area, including those at Lee Hall and Hulton Park.”

Peel Land said that a planning application will be submitted in due course, which will then be subject to a statutory public consultation by Bolton Council.

It said a pre-application public consultation with site neighbours and local councillors has already been undertaken, with feedback being incorporated into the plans.

A spokesman added: “In the meantime, anyone who would like further information or has questions about the proposals can contact the project team at contact@junction4employment.co.uk.”

The resource mobilised would be used for the business growth of the bank.

The bonds are issued for a tenor of 10 years, with a call option after 5 years and each anniversary date thereafter, SBI said in a statement.

The issue attracted a good response from investors with bids of approximately 2 times against the base issue size of Rs 5,000 crore, it added.

The total number of bids received was 47, indicating participation from a diverse set of qualified institutional bidders, it said, adding that the investors were across provident funds, pension funds, mutual funds, banks, etc.

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SBI Chairman CS Setty said that wider participation and heterogeneity of bids demonstrated the trust investors place in the country’s largest bank.
Based on the response, the bank has decided to accept Rs 6,051 crore at a coupon rate of 7.05 per cent payable annually, it added.

Sri Lanka, facing a 30% tourist drop, joins Thailand, Cambodia, Indonesia, and Nepal in tourism decline due to Middle East flight disruptions. Nations are diversifying travel routes and focusing on domestic tourism.

Key Points

• Sri Lanka, Thailand, Cambodia, Indonesia, and Nepal are experiencing significant declines in inbound tourism, largely due to flight cancellations and disruptions stemming from the escalating Middle East crisis, particularly affecting major transit hubs like Dubai and Doha.
• Sri Lanka’s tourism dropped by approximately 30%, with over 750 flights canceled. The country is promoting alternative airports and diversifying source markets. Despite setbacks, there’s a reported 10.7% increase in tourist arrivals for 2026 compared to the previous year.
• Countries are implementing strategies to mitigate declines, focusing on domestic tourism and promoting alternative transport routes. However, ongoing geopolitical tensions continue to hinder recovery in the short term, affecting confidence in international travel.

Impact of the Middle East Crisis on Inbound Tourism

Sri Lanka, alongside Thailand, Cambodia, Indonesia, and Nepal, is experiencing a decline in inbound tourism due to the escalating crisis in the Middle East. This conflict has severely disrupted international flight schedules, particularly affecting vital transit hubs like Dubai, Doha, and Abu Dhabi. Many countries reliant on tourism are facing significant drops in arrivals as over 750 flights to Sri Lanka alone have been canceled. Major airlines such as Qatar Airways and Emirates are grappling with operational challenges, which has drastically influenced travel patterns. The ongoing situation complicates the recovery process for tourism sectors in these countries, which are heavily dependent on inbound travelers from Europe and neighboring regions.

Government Initiatives and Tourism Adaptation

In response to these challenges, Sri Lanka has reported a 30% decrease in tourist arrivals but is implementing measures such as free 14-day visa extensions for stranded tourists and promoting alternative airports to mitigate the impact. Other nations like Thailand are witnessing similar trends, with projected declines in arrivals from Middle Eastern countries ranging from 30% to 50%. Given that nearly one-third of international travelers transit through Middle Eastern hubs, the loss of this segment is significant. Countries are striving to diversify their markets and enhance their domestic tourism efforts as alternative strategies to adapt to the evolving travel landscape amid these ongoing disruptions.

Long-term Outlook for Tourism Recovery

While the situation remains fluid, countries such as Sri Lanka and Thailand are optimistic about gradually recovering by tapping into other markets like India and promoting alternative routes. Despite the immediate challenges, there is a glimmer of hope, evidenced by Sri Lanka reporting a 10.7% increase in arrivals in early 2026 relative to the previous year. However, the effects of the crisis persist, underscoring the need for a resilient tourism strategy to sustain and eventually revitalize these nations’ tourism industries. The future of global tourism heavily depends on stabilizing the geopolitical climate and restoring confidence among international travelers.

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With its global release just two days away on March 19, 2026, Pearl Abyss’ long-awaited single-player epic “Crimson Desert” has generated intense buzz through a wave of early hands-on previews, leaked impressions and technical breakdowns. The open-world action-adventure game, developed by the creators of “Black Desert Online,” promises a massive fantasy realm filled with dynamic combat, exploration and spectacle, and initial reactions suggest it largely delivers on years of trailer hype.

Set on the continent of Pywel, “Crimson Desert” follows protagonist Kliff, leader of the Greymane mercenary faction, as he navigates political intrigue, brutal battles and mythical threats. The story emphasizes epic moments over deep narrative branching, with players rebuilding their group amid a looming crisis. Pearl Abyss positions the title as a bold shift from its MMORPG roots to a focused single-player experience blending influences from “The Witcher 3,” “Dragon’s Dogma 2,” “Assassin’s Creed” and character-action games like “Devil May Cry.”

Early access for select creators and outlets has revealed a game of staggering ambition. Previewers who spent 4 to 12 hours — and in some cases up to 50 hours — describe an overwhelming yet exhilarating start. PC Gamer’s Harvey Randall called it “one of the most overwhelming, chaotic, madcap videogames I’ve ever played” after six hours, praising its unapologetic dedication to “rule of cool” with absurd high-fantasy elements like dragon riding, mech suits and sky-floating ruins in the Abyss realm.

Combat stands out as the strongest pillar. Reviewers highlight deep, expressive systems featuring full combos, enemy-learned moves and large-scale battles that feel like character-action titles in an open world. One leaked impression from Spanish creator Revenant, shared via a now-deleted podcast, described the combat as “incredible” and unprecedented in scope, predicting a Metacritic score in the 80-85 range. Verticality shines with grappling, climbing and aerial maneuvers, even without mounts.

The world of Pywel impresses with its scale and detail. Hands-on reports from IGN, PlayStation Blog and others note jaw-dropping vistas, dense environments and freedom in exploration. Activities range from oddball side quests to puzzle-solving, though some puzzles feel slow-paced. The DualSense controller enhances immersion on PS5 with adaptive triggers and haptics during fights.

Technical performance draws mixed but mostly positive notes. Digital Foundry’s recent deep dive on PS5 Pro showcased smooth, high-fidelity gameplay, though base PS5 runs around 40-45 FPS in quality mode according to leaks. PC versions appear demanding yet capable of strong results. Minor issues like complicated controls and a steep learning curve — especially in the first 8 hours — appear frequently, with a “slow burn” before systems click.

Not all feedback is glowing. Some previewers, including TheGamer’s Sam Woods after six hours, found the control scheme confusing and the “everything” approach potentially diluting mastery in any one area. It’s described as more gameplay-focused than story-driven, lacking the narrative depth of top RPGs. No handholding means a challenging entry, which may not suit everyone.

Pearl Abyss has ramped up marketing with an official launch trailer and gameplay footage emphasizing reclamation of power and beyond-limits feats. Pre-load began March 17 in many regions, with simultaneous launch across PS5, Xbox Series X|S, PC (Steam, Epic, Microsoft Store) and Mac.

Fan anticipation remains sky-high despite the absence of widespread base-console footage pre-launch, likely to curb leaks. Communities on Reddit, ResetEra and NeoGAF buzz with discussions of its ambition, comparing it favorably to recent open-world hits while noting potential for post-launch polish.

As embargo lifts fully post-release, “Crimson Desert” could emerge as a defining 2026 title for action-adventure fans craving spectacle and depth. Early signs point to a polarizing yet captivating experience — chaotic, visually stunning and mechanically rich — that rewards patience and immersion.

With launch imminent, players worldwide prepare to dive into Pywel. Whether it fully lives up to the hype or requires tweaks, the journey promises to be unforgettable.

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