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BAA to break up UK airport interests

18 August 2008

BAA, the British airport operator, is expected to be directed by the Competition Commission to divest itself of at least some of its airports. BAA owns Heathrow, Gatwick, Stansted and Southampton in the south-east and Glasgow, Edinburgh and Aberdeen in Scotland.

BAA was heavily criticised for the disastrous opening of Heathrow terminal 5 and has been accused of neglecting essential maintenance in favour of maximising profits to help out parent company, Ferrovial of Spain.

The Commission is likely to argue that the joint ownership of Heathrow, Gatwick and Stansted is not in passengers interests and results in slow and unimaginative development of these major hubs.

The sale of Gatwick could raise in the order of £2 billion with Hochtief, Global Infrastructure Partners, GE-Credit Suisse, Macquarie and Manchester Airport Group all in the frame.

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