Ferrovial sells George Best Airport to ABN AMRO
Ferrovial sells George Best Airport to ABN AMRO - Belfast Airport News
Airport news for Belfast on 08/09/2008.
Spain’s construction giant, Grupo Ferrovial, the owner of British airports operator, BAA, reports that it has sold the George Best Airport in Belfast for £132.5 million.
The airport’s chief executive, Brian Ambrose, said: "The sale is the result of Ferrovial's strategy to focus its UK airport business within the BAA group, manager of various UK airports. The capital gain on sale, in accordance with preliminary calculations is £85 million."
It is expected that the sale will be complete in late September. Ferrovial bought the airport in 2003 at a price of £35 million.
The airport official added: "The sale does not affect the day-to-day business of the airport and we look forward to continuing to serve both our business partners and our customers. We also look forward to continued investment in the airport facilities."
In a report issued last month, the UK Competition Commission recommended that BAA be forced by the government to sell two of its airports in the London area and one of its airports in Scotland.
The Belfast City Airport was not involved in the Competition Commission’s recommendations, as it is not owned by BAA, but by Ferrovial directly.
Last year, Belfast City handled 2.2 million passengers and is expecting the number to increase to 2.7 million for this year.
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