UK - BAA told to sell three airports

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Source: Uk news

BAA told to sell three airports

The Competition Commission has said it will require BAA to sell Gatwick, Stansted and Edinburgh airports.

The watchdog says the decision is subject to a final consultation but is necessary to improve levels of service at UK airports.

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Gatwick sale 'still on schedule'

Gatwick is worth about £1.8bn, regulators have said

Airport operator BAA has said its sale of Gatwick Airport is on schedule with initial bids having been received from potential buyers.

However, BAA made no comment on the sale of Stansted, which is expected following a Competition Commission review of UK airport ownership.

BAA also reported a sharp drop in profits on the back of lower passenger numbers and higher running costs.

It reported an operating profit of £23m for 2008, against £476m a year before.

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Source: - BBC News

19 Mar 09

Regulator orders sale of airports

The Competition Commission has confirmed the break-up of airports operator BAA and ordered the sale of Gatwick and Stansted.

In the final report of its two-year investigation, the commission also told BAA that it must also sell either Edinburgh or Glasgow airport.

BAA currently owns seven airports in the UK