BAA expects GBP1.2bn from sale of Stansted

BAA expects to raise GBP1.2 billion (USD2.5 billion) from the forced sale of London Stansted Airport, but it expects to wait until market conditions improve to sell, according to CEO Colin Matthews (Reuters, 12-Apr-2011). "We would like some flexibility not to have to sell at the worst possible time in the market and naturally that's a concern for our shareholders who are concerned that they get a decent return," said Mr Matthews. BAA sold London Gatwick to Global Infrastructure Partners for GBP1.5 billion in Oct-2009. Mr Matthews said "anyone who is interested in investing in airports will be interested in Stansted. You could almost double the capacity at Stansted to 35 million [p/a]."