Gatwick Airport expect to sell at premium
Gatwick Airport expect to sell at premium - Gatwick Airport News
Airport news for Gatwick on 12/01/2009.
BAA has made this prediction despite the slowdown in demand for air travel that has been a result of worsening economic conditions in the UK and elsewhere. Passenger traffic fell by 14 per cent in November at Gatwick, Britain’s second-busiest airport.
“There is strong interest and we expect there to be a significant premium,” said Malcolm Robertson, a BAA spokesman. “Capital city airports don’t come on to the market very often and we expect the fact that this is a London airport to be reflected in the interest.”
BAA, the world’ largest airports operator, put Gatwick up for sale following continued pressure from the UK’s competition watchdog, which claimed that in order for airports in the UK to be more competitive BAA would have to sell off some of its assets.
Gatwick’s value was estimated by the Civil Aviation Authority (CAA), for the 12-month period from April, based on the airport’s regulated asset base. BAA is a part of Spain’s Grupo Ferrovial SA, having been acquired by the group in 2006 for 10.1 billion pounds. BAA also owns London Heathrow, the busiest airport in Europe.