BAA puts Gatwick up for sale

BAA has put Gatwick Airport up for sale; just weeks after the Competition Commission recommended it sell one of its London airports.

The Commission was concerned with market dominance by the Spanish company, which also owns Heathrow and Stansted airports.

Several firms are already rumoured to be interested in Gatwick, which is estimated to be worth about £2bn.

Potential bidders include Australian company Macquarie, Germany’s Fraport and the owners of Manchester airport, reported the BBC.

Virgin Atlantic is also interested in bidding as part of a consortium.

The airport is the second largest in the UK and handled 35m passengers in 2007, but is approaching full capacity.

BAA chief executive Colin Matthews told the BBC: “Gatwick has long been an important and valuable part of BAA and the decision to sell was not taken lightly.

“We believe the airport’s customers, staff and businesses will benefit from the earliest possible resolution of current uncertainty.”