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30/03/2011
BAA To Press Ahead With Airport Sales
BAA should still be required to sell Stansted Airport and Edinburgh or Glasgow Airport, the Competition Commission (CC) has provisionally concluded today.
The CC has been considering whether there have been any material changes in circumstances since it published its final report on BAA in March 2009 that should give it cause to reconsider the implementation of the airport sales Court of Appeal required by that original decision. The decision was subject to a legal challenge by BAA, which eventually culminated with the reinstating the CC's findings in October 2010. In February, the Supreme Court refused BAA permission to appeal further.
The CC has provisionally concluded that the sale of the airports is fully justified and that passengers and airlines would still benefit from greater competition with the airports under separate ownership, despite the current Government's decision to rule out new runways at any of the London airports.
The CC has also concluded that there is no reason to change the original timescale with the Stansted sale followed by sale of one of the Scottish airports.
CC Chairman and Chairman of the BAA Remedies Implementation Group, Peter Freeman,
said: "The CC will now invite responses before publishing its final verdict in May/June.
We remain convinced that the original decision to require BAA to divest three airports is the right one for passengers and airlines.
"We have re-examined that decision in the light of a significant subsequent development when the Government decided to rule out further runways at London’s airports. Having examined the case closely, we are clear that many benefits will still arise without that expansion, by increasing competition and addressing detrimental effects from BAA’s common ownership."
Stansted is to be sold first, with either Glasgow or Edinburgh airports following later.
(BMcN/GK)
The CC has been considering whether there have been any material changes in circumstances since it published its final report on BAA in March 2009 that should give it cause to reconsider the implementation of the airport sales Court of Appeal required by that original decision. The decision was subject to a legal challenge by BAA, which eventually culminated with the reinstating the CC's findings in October 2010. In February, the Supreme Court refused BAA permission to appeal further.
The CC has provisionally concluded that the sale of the airports is fully justified and that passengers and airlines would still benefit from greater competition with the airports under separate ownership, despite the current Government's decision to rule out new runways at any of the London airports.
The CC has also concluded that there is no reason to change the original timescale with the Stansted sale followed by sale of one of the Scottish airports.
CC Chairman and Chairman of the BAA Remedies Implementation Group, Peter Freeman,
said: "The CC will now invite responses before publishing its final verdict in May/June.
We remain convinced that the original decision to require BAA to divest three airports is the right one for passengers and airlines.
"We have re-examined that decision in the light of a significant subsequent development when the Government decided to rule out further runways at London’s airports. Having examined the case closely, we are clear that many benefits will still arise without that expansion, by increasing competition and addressing detrimental effects from BAA’s common ownership."
Stansted is to be sold first, with either Glasgow or Edinburgh airports following later.
(BMcN/GK)
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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.
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.
20 August 2008
Commission Urges BAA To Sell Three Airports
BAA is being urged to sell three of its seven airports because of concerns about its dominance in the market. The Competition Commission (CC) is recommending that the airport operator should have to sell two of its three airports in the south east: Heathrow, Gatwick and Stansted.
Commission Urges BAA To Sell Three Airports
BAA is being urged to sell three of its seven airports because of concerns about its dominance in the market. The Competition Commission (CC) is recommending that the airport operator should have to sell two of its three airports in the south east: Heathrow, Gatwick and Stansted.
17 September 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.
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.
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.
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