BAA announces Edinburgh Airport to be sold

PA

Airport operator BAA has announced today that it is set to sell Edinburgh Airport.

The Competition Commission (CC) had ordered Spanish-owned BAA, which operates six UK airports, to sell either Edinburgh or Glasgow.

After a prolonged enquiry, the CC found that BAA's ownership of UK airports was anti-competitive, and ordered them to sell Gatwick, Stansted, and either Glasgow or Edinburgh.

Gatwick has already been sold to an American company, and BAA announced their final decision on Edinburgh - Scotland's largest airport - today.

BAA said: 'We are now commencing preparations for a sale (of Edinburgh) and expect to formally approach the market in the new year with a view to agreeing a sale by summer 2012.'

BAA chief executive Colin Matthews told the Independent: 'Choosing which airport to sell has been a difficult decision. Edinburgh Airport has shown itself to be a strong and resilient asset throughout the economic downturn.

'Passenger numbers at Edinburgh have grown by more than 6% over the past year and in an uncertain market we expect it to be an attractive asset to prospective buyers.

'Glasgow Airport has great opportunities for future growth and development and we think BAA is well-placed to build on its recent success. Both airports are of national importance and have a bright future.'

BAA made a £42 million investment into Edinburgh's departure lounge and security hall in 2010, which led the airport's managing director Jim O'Sullivan to say they are sorry to leave BAA, but they do so 'in the knowledge that we are in an extremely strong and healthy position'.

The airport handles more than nine million passengers a year and a 100,000 flights. It also directly employs 485 staff, and supports 7,500 jobs across Scotland.

BAA are still disputing the request to sell Stansted.


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