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21/10/2009
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.
The Commission also ordered BAA - which is owned by Spain's Ferrovialto - to sell Stansted and either Glasgow or Edinburgh after it found competition problems at each of its seven UK airports.
BAA is taking part in an appeal at the Competition Appeal Tribunal against the decision, which forces them to sell off some of their other airports.
The company said proceeds from the sale will be used primarily to repay part of BAA's debt, which stood at £9.6bn at the end of June.
BAA Chief Executive Colin Matthews described the deal as a "new beginning" for the company.
"BAA is changing and today's announcement marks a new beginning for both Gatwick and BAA," Mr Matthews said.
"We wish Gatwick well for the future and are confident that the airport will flourish under new ownership."
The sale is subject to EU merger regulation clearance and is due to be completed in December.
(BMcC/KMcA)
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.
The Commission also ordered BAA - which is owned by Spain's Ferrovialto - to sell Stansted and either Glasgow or Edinburgh after it found competition problems at each of its seven UK airports.
BAA is taking part in an appeal at the Competition Appeal Tribunal against the decision, which forces them to sell off some of their other airports.
The company said proceeds from the sale will be used primarily to repay part of BAA's debt, which stood at £9.6bn at the end of June.
BAA Chief Executive Colin Matthews described the deal as a "new beginning" for the company.
"BAA is changing and today's announcement marks a new beginning for both Gatwick and BAA," Mr Matthews said.
"We wish Gatwick well for the future and are confident that the airport will flourish under new ownership."
The sale is subject to EU merger regulation clearance and is due to be completed in December.
(BMcC/KMcA)
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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.
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.
20 August 2012
BAA To Sell Stansted Airport
Following a long-running legal battle, airports operator BAA has announced it will sell Stansted Airport. BAA has been fighting a 2009 Competition Commission ruling that it must sell Stansted because of the lack of competition between London airports.
BAA To Sell Stansted Airport
Following a long-running legal battle, airports operator BAA has announced it will sell Stansted Airport. BAA has been fighting a 2009 Competition Commission ruling that it must sell Stansted because of the lack of competition between London airports.
19 October 2011
BAA to Sell Edinburgh Airport
Following the Competition Commission's decision requiring BAA to sell either Edinburgh or Glasgow airport, BAA has announced that it has decided to sell Edinburgh Airport. BAA is now commencing preparations for a sale and expects to formally approach the market in the New Year with a view to agreeing a sale by Summer 2012.
BAA to Sell Edinburgh Airport
Following the Competition Commission's decision requiring BAA to sell either Edinburgh or Glasgow airport, BAA has announced that it has decided to sell Edinburgh Airport. BAA is now commencing preparations for a sale and expects to formally approach the market in the New Year with a view to agreeing a sale by Summer 2012.
25 May 2007
Race hate preacher deported
Race hate cleric Abdullah al-Faisal has been deported from Britain, Home Secretary John Reid has confirmed. The 39-year-old, who is of Jamaican origin, is understood to have left Gatwick airport, bound for Jamaica, around midday, accompanied by two police escorts and an immigration officer.
Race hate preacher deported
Race hate cleric Abdullah al-Faisal has been deported from Britain, Home Secretary John Reid has confirmed. The 39-year-old, who is of Jamaican origin, is understood to have left Gatwick airport, bound for Jamaica, around midday, accompanied by two police escorts and an immigration officer.
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