Ferrovial faces two airport sales after Gatwick :: 19/02/2009 :: Airport Parking News
The Spanish owner of airports operator BAA is trying to hold on to its other six UK airports.
← Previous Article | ↑ Articles This Month ↑ | Next Article →
Ferrovial faces two airport sales after Gatwick
Thursday, 19th February 2009
It is hoping to persuade anti-monopoly regulators to permit it to retain its other airports as it faces difficulties in the Gatwick airport sale.
Over the next couple of weeks, the report of the Competition Commission is expected to be released, demanding that Ferrovial sell Stansted airport in London, and either Glasgow or Edinburgh airport in Scotland.
The Spanish infrastructure giant pre-empted the requirement to sell Gatwick airport, the second-busiest in Britain, by putting it up for sale by auction earlier this year.
However, several major bidders who had expressed interest in acquiring the airport withdrew from the process this week, in a development that is likely to be worrisome to management at Ferrovial, in that it could mean a lower selling price for the airport.
The possibly depressed sales price for Gatwick is adding pressure to the heavily indebted airport owner to hold on to as many of its six other UK airports as possible. Ferrovial acquired the airports when it purchased BAA in 2006 for £10.3 billion.
An unidentified company source noted: "There is no heat in our dialogues with the regulator on Gatwick [a subject on which] we see eye to eye. That is not the case on other matters."
← Virgin Atlantic to cut up to 600 jobs
→ In flight medical emergencies increase
↑ February 2009 news index
