Menu
17/09/2008
BAA Announces Plans To Sell Gatwick "Immediately"
Airport operator BAA has announced plans to sell the UK's second-largest airport, Gatwick "immediately".
BAA's Chief Executive Colin Matthews, in a statement, said: "Gatwick has long been an important and valuable part of BAA and the decision to sell was not taken lightly."
Reports have said the airport, which is used by 35 million passengers a year, could fetch between £2 billion and £3 billion.
Last month the Competition Commission told BAA - owned by Spanish construction company Ferrovial - it may have to sell three of its UK airports, due to market dominance concerns.
The Competition Commission also blasted BAA over its poor customer service, overcrowded facilities and delays.
Talking about the decision to sell Gatwick, Mr Matthews said: "We believe that the airport's customers, staff and business will benefit from the earliest possible resolution of current uncertainty.
"When the Competition Commission published its provisional findings, we said that we would be realistic in our response, though we disagree with the Commission’s report and the analysis on which it was founded."
Potential bidders for the airport include Manchester Airport Group, Germany's Hochtief, Australia's Macquarie group and the GE-Credit Suisse Investment fund.
Virgin Atlantic Chief Executive Steve Ridgeway said the company was "delighted" that BAA has ended "the uncertainty over Gatwick's future".
He added: "Virgin Atlantic would relish the opportunity to bid for Gatwick as part of a consortium and inject our customer service expertise into any future running of the airport.
"Gatwick doesn’t just need a new order. It needs a much tougher regulatory-system which ensures any new owner does not become BAA mark II."
Steve Turner, national officer for aviation, for union Unite, said the sale was "devastating news to the many hundreds of professional, loyal and dedicated staff" at the airport. He also said it "simply beggars belief" that a "For Sale sign" could be hung across the UK's second biggest airport.
"Gatwick is a core component of the national infrastructure and an essential part of the UK's aviation sector, yet it is to be flogged off with little care for the wider social impact."
See: BAA Bids Begin
(JM)
BAA's Chief Executive Colin Matthews, in a statement, said: "Gatwick has long been an important and valuable part of BAA and the decision to sell was not taken lightly."
Reports have said the airport, which is used by 35 million passengers a year, could fetch between £2 billion and £3 billion.
Last month the Competition Commission told BAA - owned by Spanish construction company Ferrovial - it may have to sell three of its UK airports, due to market dominance concerns.
The Competition Commission also blasted BAA over its poor customer service, overcrowded facilities and delays.
Talking about the decision to sell Gatwick, Mr Matthews said: "We believe that the airport's customers, staff and business will benefit from the earliest possible resolution of current uncertainty.
"When the Competition Commission published its provisional findings, we said that we would be realistic in our response, though we disagree with the Commission’s report and the analysis on which it was founded."
Potential bidders for the airport include Manchester Airport Group, Germany's Hochtief, Australia's Macquarie group and the GE-Credit Suisse Investment fund.
Virgin Atlantic Chief Executive Steve Ridgeway said the company was "delighted" that BAA has ended "the uncertainty over Gatwick's future".
He added: "Virgin Atlantic would relish the opportunity to bid for Gatwick as part of a consortium and inject our customer service expertise into any future running of the airport.
"Gatwick doesn’t just need a new order. It needs a much tougher regulatory-system which ensures any new owner does not become BAA mark II."
Steve Turner, national officer for aviation, for union Unite, said the sale was "devastating news to the many hundreds of professional, loyal and dedicated staff" at the airport. He also said it "simply beggars belief" that a "For Sale sign" could be hung across the UK's second biggest airport.
"Gatwick is a core component of the national infrastructure and an essential part of the UK's aviation sector, yet it is to be flogged off with little care for the wider social impact."
See: BAA Bids Begin
(JM)
Related UK National News Stories
Click here for the latest headlines.
19 March 2009
CC Orders BAA To Sell Two Airports
The Competition Commission (CC) has ordered BAA to sell both Gatwick and Stansted as well as either Edinburgh or Glasgow. In its final report on BAA's ownership of seven UK airports, the CC also stipulates that BAA must sell all three airports within two years.
CC Orders BAA To Sell Two Airports
The Competition Commission (CC) has ordered BAA to sell both Gatwick and Stansted as well as either Edinburgh or Glasgow. In its final report on BAA's ownership of seven UK airports, the CC also stipulates that BAA must sell all three airports within two years.
21 October 2009
Gatwick Airport Sold Off
One of Britain's biggest airports has been sold. After the Competition Commission ruled in March that the company would have to sell the airport within two years, BAA said today it has agreed the sale of Gatwick Airport in a deal worth £1.51bn. The airport will be sold to Global Infrastructure Partners, the owner of City Airport, BAA said.
Gatwick Airport Sold Off
One of Britain's biggest airports has been sold. After the Competition Commission ruled in March that the company would have to sell the airport within two years, BAA said today it has agreed the sale of Gatwick Airport in a deal worth £1.51bn. The airport will be sold to Global Infrastructure Partners, the owner of City Airport, BAA said.
02 September 2008
Virgin May Bid For Gatwick Ownership
A team from Sir Richard Branson's Virgin Atlantic Group is in the market to bid for a major UK airport. He has put together a consortium to raise the £2bn to buy Britain's second largest airport - Gatwick - now that the current owner BAA is selling it due to well publicised competition concerns.
Virgin May Bid For Gatwick Ownership
A team from Sir Richard Branson's Virgin Atlantic Group is in the market to bid for a major UK airport. He has put together a consortium to raise the £2bn to buy Britain's second largest airport - Gatwick - now that the current owner BAA is selling it due to well publicised competition concerns.
10 August 2005
London bombings affect air traffic
BAA has reported a 2.6% increase in UK airport traffic figures in July, compared with last year, with its seven airports handling a record 14.6 million passengers last month. However, the airport operator said that the London bombings on July 7 had affected the increase.
London bombings affect air traffic
BAA has reported a 2.6% increase in UK airport traffic figures in July, compared with last year, with its seven airports handling a record 14.6 million passengers last month. However, the airport operator said that the London bombings on July 7 had affected the increase.
24 July 2009
Emergency Landing Shuts Gatwick
Gatwick Airport's runway has been temporarily closed to all flights following an emergency landing by a Flybe jet. A Cardiff-bound Dash 8 aircraft had to put down at Gatwick Airport in West Sussex, from Charles de Gaulle airport in Paris. All 46 passengers on board the flight were safely evacuated at the airport at around 11.
Emergency Landing Shuts Gatwick
Gatwick Airport's runway has been temporarily closed to all flights following an emergency landing by a Flybe jet. A Cardiff-bound Dash 8 aircraft had to put down at Gatwick Airport in West Sussex, from Charles de Gaulle airport in Paris. All 46 passengers on board the flight were safely evacuated at the airport at around 11.
-
Northern Ireland WeatherThis Evening and Tonight:A fine end to the day with some evening sunshine. It remains mainly dry overnight with a touch of frost or fog patches possible in places. However, cloud is expected to increase towards dawn with the odd light shower. Minimum temperature 2 °C.
