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02/09/2008
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.
However, a final report by the Competition Commission on Britain's airports industry is not expected to be published until next February and BAA's owner, the Spanish company Grupo Ferrovial, is unlikely to hear any formal interest from buyers until the report is finally released.
But, it has emerged that the Virgin Chairman Sir Richard himself has already held talks with several potential bidding partners, which reportedly includes funds backed by the Dubai royal family.
Last month it emerged that BAA was likely to sell three of its seven airports because of concerns about its dominance in the market.
The news followed initial Competition Commission recommendations that the airport operator should sell two of its three airports in the south east: Heathrow, Gatwick and Stansted.
The Commission also believes that BAA should not be permitted to own airports in both Glasgow and Edinburgh.
At the time, BAA hit back saying it has "no intention" of selling Heathrow, its largest airport.
In a statement, the Commission said: "We have provisionally found that there are competition problems at each of BAA's seven airports with adverse consequences for passengers and airlines.
"A principal cause is their common ownership by BAA."
BAA, formed in 1965, owned by Ferrovial, owns the London trio of airports, three in Scotland, and one in Southampton.
BAA handles 91% of passengers in southeast England, where overcrowding and the chaotic opening of Terminal 5 at Heathrow led UK Ministers to demand its break-up.
The CC is now seeking views on which of BAA's three London airports should be sold and similarly which of Edinburgh or Glasgow airports should be sold.
The CC said that BAA showed a "lack of responsiveness" to the needs of airlines and a "lack of initiative" over expanding capacity.
See: Commission Urges BAA To Sell Three Airports
(BMcC)
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.
However, a final report by the Competition Commission on Britain's airports industry is not expected to be published until next February and BAA's owner, the Spanish company Grupo Ferrovial, is unlikely to hear any formal interest from buyers until the report is finally released.
But, it has emerged that the Virgin Chairman Sir Richard himself has already held talks with several potential bidding partners, which reportedly includes funds backed by the Dubai royal family.
Last month it emerged that BAA was likely to sell three of its seven airports because of concerns about its dominance in the market.
The news followed initial Competition Commission recommendations that the airport operator should sell two of its three airports in the south east: Heathrow, Gatwick and Stansted.
The Commission also believes that BAA should not be permitted to own airports in both Glasgow and Edinburgh.
At the time, BAA hit back saying it has "no intention" of selling Heathrow, its largest airport.
In a statement, the Commission said: "We have provisionally found that there are competition problems at each of BAA's seven airports with adverse consequences for passengers and airlines.
"A principal cause is their common ownership by BAA."
BAA, formed in 1965, owned by Ferrovial, owns the London trio of airports, three in Scotland, and one in Southampton.
BAA handles 91% of passengers in southeast England, where overcrowding and the chaotic opening of Terminal 5 at Heathrow led UK Ministers to demand its break-up.
The CC is now seeking views on which of BAA's three London airports should be sold and similarly which of Edinburgh or Glasgow airports should be sold.
The CC said that BAA showed a "lack of responsiveness" to the needs of airlines and a "lack of initiative" over expanding capacity.
See: Commission Urges BAA To Sell Three Airports
(BMcC)
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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.
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.
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.
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.
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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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
