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Regulator to order airports sale Regulator to order airports sale
(about 3 hours later)
The Competition Commission is expected to confirm the break-up of airports operator BAA by ordering the sale of Stansted airport as well as Gatwick.The Competition Commission is expected to confirm the break-up of airports operator BAA by ordering the sale of Stansted airport as well as Gatwick.
In the final report of its two-year investigation to be published on Thursday, it will also require the sale of one of BAA's Scottish airports. In the final report of its two-year investigation to be published later, it will also order the sale of one of BAA's three Scottish airports.
It has been looking into BAA's dominance over airports in Scotland and the south-east of England. It has looked into BAA's dominance over airports in Scotland and the south-east of England; BAA owns a total of seven.
The regulator has already begun to vet potential bidders for Gatwick.The regulator has already begun to vet potential bidders for Gatwick.
In its provisional decision published in December, the commission said the lack of competition between airports owned by BAA was detrimental to passengers. 2008 PASSENGER NUMBERS AT BAA AIRPORTS Heathrow: 66.9 millionGatwick: 34.2 millionStansted: 22.3 millionEdinburgh: 9.0 millionGlasgow: 8.1 millionAberdeen: 3.3 millionSouthampton: 2.0 million Source: BAA annual reportIn its provisional decision published in December, the commission said the lack of competition between airports owned by BAA was detrimental to passengers. 2008 PASSENGER NUMBERS AT BAA AIRPORTS Heathrow: 66.9 millionGatwick: 34.2 millionStansted: 22.3 millionEdinburgh: 9.0 millionGlasgow: 8.1 millionAberdeen: 3.3 millionSouthampton: 2.0 million Source: BAA annual report
It concluded that BAA, which also owns Heathrow, should sell Gatwick and Stansted airports in the south-east of England.It concluded that BAA, which also owns Heathrow, should sell Gatwick and Stansted airports in the south-east of England.
It also said Edinburgh airport should be sold, although it invited further views on this. BAA also operates Glasgow and Aberdeen airports.It also said Edinburgh airport should be sold, although it invited further views on this. BAA also operates Glasgow and Aberdeen airports.
Last month, BAA said a fall in passenger numbers, brought on by the economic downturn, had dented its 2008 profits, which fell by 18.4%.Last month, BAA said a fall in passenger numbers, brought on by the economic downturn, had dented its 2008 profits, which fell by 18.4%.
It reported a profit of £582m before tax and interest, down from £713m in 2007, as 2.7% fewer travellers went through its seven UK airports.It reported a profit of £582m before tax and interest, down from £713m in 2007, as 2.7% fewer travellers went through its seven UK airports.