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| Gatwick Airport put up for sale | Gatwick Airport put up for sale |
| (10 minutes later) | |
| The UK's second-largest airport, Gatwick, has been put up for sale by its owner BAA. | The UK's second-largest airport, Gatwick, has been put up for sale by its owner BAA. |
| The move comes four weeks after the Competition Commission said BAA may have to sell three of its UK airports because of market dominance concerns. | The move comes four weeks after the Competition Commission said BAA may have to sell three of its UK airports because of market dominance concerns. |
| Several firms are said to be interested in buying Gatwick, which has been valued at £1.8bn by regulators. | Several firms are said to be interested in buying Gatwick, which has been valued at £1.8bn by regulators. |
| Potential bidders include Australian company MacQuarie, Germany's Fraport, and the owners of Manchester airport. | Potential bidders include Australian company MacQuarie, Germany's Fraport, and the owners of Manchester airport. |
| Last week, Virgin Atlantic also said it was interested in being part of a buying consortium. | Last week, Virgin Atlantic also said it was interested in being part of a buying consortium. |
| Sale process begins | Sale process begins |
| Last month, the Competition Commission said in an interim ruling that BAA may have to sell three of its seven UK airports. | Last month, the Competition Commission said in an interim ruling that BAA may have to sell three of its seven UK airports. |
| 2007 PASSENGER NUMBERS AT BAA AIRPORTS Heathrow: 67.8 millionGatwick: 35.1 millionStansted: 23.7 millionEdinburgh: 9.0 millionGlasgow: 8.7 millionAberdeen: 3.4 millionSouthampton: 1.9 millionSource: BAA BAA 'should sell three airports' | |
| Although the Commission does not release its full report until next year, it added that BAA may need to sell two of its three airports in the South East - Heathrow, Gatwick and Stansted | Although the Commission does not release its full report until next year, it added that BAA may need to sell two of its three airports in the South East - Heathrow, Gatwick and Stansted |
| BAA, which is owned by Ferrovial of Spain, ruled out selling Heathrow, which leaves Gatwick and Stansted. | BAA, which is owned by Ferrovial of Spain, ruled out selling Heathrow, which leaves Gatwick and Stansted. |
| The company also operates airports at Edinburgh, Glasgow and Aberdeen in Scotland, and Southampton in southern England. | The company also operates airports at Edinburgh, Glasgow and Aberdeen in Scotland, and Southampton in southern England. |
| In a statement, BAA said it had decided to begin the process of selling Gatwick "immediately". | In a statement, BAA said it had decided to begin the process of selling Gatwick "immediately". |
| "Gatwick has long been an important and valuable part of BAA and the decision to sell was not taken lightly," said BAA chief executive Colin Matthews. | "Gatwick has long been an important and valuable part of BAA and the decision to sell was not taken lightly," said BAA chief executive Colin Matthews. |
| "We believe that the airport's customers, staff and business will benefit from the earliest possible resolution of current uncertainty. | "We believe that the airport's customers, staff and business will benefit from the earliest possible resolution of current uncertainty. |
| Major airlines at Gatwick Aer LingusEasyjetSASDelta AirlinesUS AirwaysBARyanairVirgin AtlanticTAPContinental Airlines Future of British airports | Major airlines at Gatwick Aer LingusEasyjetSASDelta AirlinesUS AirwaysBARyanairVirgin AtlanticTAPContinental Airlines Future of British airports |
| "When the Competition Commission published its provisional findings, we said that we would be realistic in our response, though we disagree with the Commission's report and the analysis on which it is founded." | "When the Competition Commission published its provisional findings, we said that we would be realistic in our response, though we disagree with the Commission's report and the analysis on which it is founded." |
| Mr Matthews told the BBC that the market would set the price that the airport would realise. | Mr Matthews told the BBC that the market would set the price that the airport would realise. |
| He also told the BBC that selling the airport was "the right thing for BAA, for Gatwick, to do". | He also told the BBC that selling the airport was "the right thing for BAA, for Gatwick, to do". |
| The Civil Aviation Authority has just increased the amount Gatwick - where 35 million passengers passed through in 2007 - can charge in landing fees. | The Civil Aviation Authority has just increased the amount Gatwick - where 35 million passengers passed through in 2007 - can charge in landing fees. |
| But it is operating on one runway and approaching full capacity. | But it is operating on one runway and approaching full capacity. |