Tue, 21 Aug 2012 | BUSINESS SALE
BAA has taken the decision to sell Stansted Airport amid a long-running legal battle.
The airport operator has been fighting a 2009 Competition Commission ruling, which determined that it must sell Stansted because of the lack of competition between the London airports.
It was ordered to choose between Stansted and Gatwick and was also ordered to sell off either Glasgow or Edinburgh airports.
At the last opportunity to appeal, BAA decided not to challenge the Stansted ruling in the Supreme Court, despite the fact that it released a statement claiming that it believes “the Competition Commission ruling fails to recognise that Stansted and Heathrow serve different markets”.
The initial problem arose when an inquiry found that BAA owned seven UK airports, carrying 60 per cent of all UK air passengers. In the south east of England, this percentage rose to 90 per cent, due to the dominance of Heathrow, Gatwick, Stansted and Southampton, while Edinburgh, Glasgow and Aberdeen accounted for 84 per cent of airport passengers in Scotland.
The news that Stansted is up for sale comes shortly after Qatar Holding bought a 20 per cent stake in BAA. The group commented on its acquisition: “The United Kingdom remains an attractive investment destination and there is long-term fundamental strength in the British economy.”
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