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Gatwick the logical choice for first BAA disposal, but hardly the right time to sell

19-Sep-2008

As expected, BAA began the process of selling London Gatwick Airport on 17-Sep-08 after the Competition Commission (CC) had made clear in an interim ruling that BAA would be required to sell two of its London airports and one in Scotland. In doing so, BAA anticipated any move by the CC that might appear as enforcement. Even so, the sale offer has materialised faster than most thought possible. [913 words]

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Subheadings:

  • Some potential buyers have declared their hand; others keep their powder dry
  • Gatwick’s valuation tumbles as credit crunch bites
  • Airlines unite to insist that any new owner does not saddle the airport with more unsustainable debt
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