BAA Confirm Gatwick For Sale

BAA has announced that Gatwick Airport is up for sale after admitting that a forced break-up of its assets by the Competition Commission was inevitable. However, the airport owner is determined to keep hold of Stansted.

Amongst the potential suitors for Britain’s second largest airport include the owners of Manchester Airport, German company Hochtieff and Australian bank Macquarie. Virgin Atlantic has also confirmed that it would be interested in joining a consortium to bid for the airport which investors value at £1.8 billion.

BAA chief executive Colin Matthews said the group had to be "realistic" about their prospects following a report from the Competition Commission which advised a break-up would improve conditions for passengers and airlines,

"Gatwick has long been an important and valuable part of BAA and the decision to sell was not taken lightly. We believe that the airport's customers, staff and business will benefit from the earliest possible resolution of current uncertainty."

Despite succumbing to the sale of Gatwick, BAA is to continue opposing the break-up of its operations in Scotland, where it owns Edinburgh, Glasgow International and Aberdeen airports,