Thu, 06 Aug 2015 | BUSINESS SALE
London City Airport is to be put up for sale by its US owners with the price rumoured to be around £2 billion.
US fund Global Infrastructure Partners (GIP) currently own the business, along with stakes in London Gatwick and Edinburgh airports but they have decided to sell City in a bid to capitalise on particularly high demand for air travel.
A sale of £2 billion would be a healthy profit for the fund, which bought the airport for £750 million in 2006.
Michael McGhee, director for transport at GIP, told the Financial Times that he believes the time is right for a sale: “The market demand for quality airports is very high.”
He did however insist that there are no plans in place within the group for the sale of its other holdings in Gatwick or Edinburgh.
London City Airport is located just seven miles from the capital's traditional business district and is even closer to Canary Wharf, making it a favoured airport for business travel. In fact two-thirds of the airport's passengers are business travellers.
It has seen passenger numbers double over the past decade from 2 million in 2005 to over 4 million this year.
View other businesses for sale here.
The company designs and delivers electronic portfolios for organisations that capture and assess evidence for personal, professional, and organisation recognition, internationally. The company creates leading digital solutions that mirror and enhance...
A distributor of oils and ancillary cleaning products to a wide client base, and is not dependent on any one client or market sector. These Items are an essential component to ensure smooth operation of equipment and reduce wear & tear and reduce ope...
The company is an equestrian business comprising a popular retail store, accredited livery and riding facilities and a competitive events operation, operating from an attractive rural location in the East Midlands.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.