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BAA decides to sell Gatwick

BAA decides to sell Gatwick The British Airports Authority (BAA) has announced today that it is to putting London Gatwick Airport up for sale, but is determined to keep a hold of the rest of its portfolio.

Speaking to reporters in Toronto, Colin Matthews, the chief executive of BAA, said that "we have decided to begin the process of selling Gatwick Airport immediately".

According to Reuters, a spokesman for the Spanish-owned airport authority explained that the process is in the very early stages and they have not as yet appointed an advisor to assess expressions of interest.

This move follows a recent Competition Commission provisional ruling that BAA's ownership of seven UK airports is counter to the best interests of passengers and airlines.

It was particularly noted that the authority's ownership of all three major London airports, alongside both Edinburgh and Glasgow, was having negative results.

Experts predict that the London Gatwick could fetch around £3 billion as it is one of Europe's busiest aviation travel hubs.

Virgin Atlantic has already indicated that it would be interested in joining any potential consortium intending to bid for the airport.

There have also been declarations of interest from German construction company Hochtief and Fraport is reportedly keen to acquire a London hub.

Reuters reports an industry source as pointing out that Global Infrastructure Partners (GIP), which owns London City Airport, would find it "logical" to consider a move for Gatwick.

Manchester Airports Group is also apparently in the frame to take on Gatwick, if this could generate value for its shareholders.


Airport News posted on 17 September 2008

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