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Stansted – The Sale Of The Century?

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  • Stansted – The Sale Of The Century?

    UK airports operator BAA has finally fallen in line with the Competition Commission over Stantsted airport, ending a three-year long legal stand-off over the Essex airport.
    The airports operator said yesterday it would not mount a final appeal to the Supreme Court, following the Court of Appeal last month upholding a competition ruling going back to 2009, calling for sale of Stansted.
    According to a spokesman for BAA, the operator was still in fundamental disagreement with the commission's position on Stansted, given that it served a different market from its other London airport, Heathrow. The spokesman added, however, that it had been advised that it would not have the legal grounds for a further appeal.

    The Competition Commission (CC) had originally ruled that BAA must sell Gatwick, Stansted and one of its Scottish sites after an inquiry into the company’s airport ownership.

    more............................. ...düüüse Im Sauseschritt

  • #2
    Ryanair to buy Stansted stake after BAA loses case

    Ryanair is planning on buying a stake in London’s Stansted Airport after competition authorities in the UK won a court case forcing the break-up of the BAA airport monopoly.

    "BAA has decided not to appeal to the Supreme Court and is now proceeding with the sale of Stansted Airport," the London-based, Spanish-owned group said yesterday.

    The group added that it is still of the belief that the UK Competition Commission failed to recognise that Stansted and Heathrow serve different markets.

    Ryanair is keen to take a 25% equity stake in Stansted by joining one of six or so groups it reckons might bid, said chief financial officer Howard Miller.

    Ryanair head of communications Stephen McNamara said BAA has been cynically blocking the sale of Stansted while profiting from their monopoly.

    more................. ...düüüse Im Sauseschritt


    • #3
      Stansted – The Sale Of The Century?

      I promise I’m not a one trick pony, and neither, for the record, do I have any financial or other beneficial interest in the subject, but the news that BAA will not oppose the ruling that they should sell Stansted allows me to expand on my campaign to get a Crossrail spur into government thinking as a practical way to solve the problem of airport capacity in London which has been lying unresolved under governments of both persuasions for more than two decades.

      When BAA was floated as a privatised company it was allowed to keep all three main London airports which even at the time provoked a storm of criticism. But the idea was that the owner would be able to cross subsidise the less profitable – particularly Stansted – from revenues at vastly profitable Heathrow. The reality has been different. BAA was bought by the Spanish engineering giant Ferrovial in a highly leveraged deal. The last government decided BAA should be forced to sell off a number of its assets including Gatwick and Stansted. Ferrovial at first resisted but in October 2009 sold Gatwick for £1.5bn to a huge private equity outfit, Global Infrastructure Partners who also own London City Airport in Docklands. Now it has announced that it will not go to the Supreme Court to seek to overturn the High Court’s ruling that the Stansted sale should go ahead.

      more....................... ...düüüse Im Sauseschritt


      • #4
        Final bids for Stansted airport

        The battle for Stansted is due to come to a head as three parties fight it out for the airport.

        Final bids are due on Wednesday in the £1 billion auction and it is believed a preferred bidder could be appointed by the end of the week, reports the Sunday Times.

        A joint venture between Manchester Airports Group and Industry Funds Management, an Australian infrastructure investor; Malaysia Airports, which is bidding with YTL, and Macquarie, the Australian investment bank, are all interested.

        A consortium led by Morrison & Co, the New Zealand infrastructure firm, withdrew from the race last week after failing to secure funding.

        Ferrovial, the Spanish construction group which owns Heathrow, was forced to put Stansted up for sale by the Competition Commission.

        Monday, January 14, 2013 ...düüüse Im Sauseschritt


        • #5
          Manchester Airport buys Stansted for £1.5bn ??

          Top stories

          Financial Times:
          The owners of Manchester Airport have agreed to buy Stansted,
          the UK’s fourth biggest airport by passenger numbers, for £1.5 billion.

          London Stansted Airport to be sold for $2.4bn

          LONDON: Spanish-owned airports operator Heathrow Airport Holdings is to sell London Stansted Airport to Manchester Airports Group for #1.5 billion ($2.4 billion, 1.8 billion euros), it announced on Friday.

          The deal means that the operator, formerly called BAA, will be responsible for just four British airports compared with its original seven.

          London Stansted is Britain's fourth-busiest airport after London Heathrow, London Gatwick and Manchester.

          "Stansted Airport and its people have been part of our company for a long time," said Heathrow chief executive Colin Matthews.

          "It has been named by passengers as 'the world's best airport for low-cost airlines' for two consecutive years at the Skytrax World Airport Awards, and we are proud of its achievements.

 ...düüüse Im Sauseschritt