End of an era for BAA airports

Published 15th Mar 2009

COMPETITION watchdogs will this week signal an end to BAA’s 44-year near-monopoly of London airports when they reveal plans to break up the company.

The Competition Commission is expected to tell BAA it must sell Gatwick, Stansted and either Edinburgh or Glasgow airports. The sale of Gatwick is under way, but Ferrovial, the Spanish group that is BAA’s controlling shareholder, has fought the disposal of Stansted. As revealed by The Sunday Times a fortnight ago it is now likely to drop its objections, but will argue that it should be given time to complete the sale.

BAA has owned and operated Heathrow, Gatwick and Stansted since 1965, when it was set up as a government agency. It was privatised in 1987, becoming a member of the FTSE 100 before a Ferrovial-led consortium bought it three years ago.

Source: ' times '

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