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Ferrovial shares ease as CC tells BAA to offload airports - share wrap

UK's Competition Commission (CC) has released its final report on airport competition, finding that BAA must sell both Gatwick and Stansted airports, as well as either Edinburgh or Glasgow, "to address comprehensively the detriment to passengers and airlines from the complete absence of competition".

BAA stated it would consider the CC report carefully before deciding how to respond, but accepted the need to change. The airport operator's CEO, Colin Matthews, told Reuters, "selling one airport is one thing, selling three is another. You can't assume we will appeal...[but] we might have to if we reach the conclusion that it is simply not practical to proceed".

Shares in BAA's parent. Ferrovial, eased 0.6% yesterday.

Selected airports daily share price movements (% change): 19-Mar-09