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Stansted Airport being sold to Manchester for £1.5bn | Stansted Airport being sold to Manchester for £1.5bn |
(35 minutes later) | |
London's Stansted Airport is being sold to the owner of Manchester Airport for £1.5bn, it has been announced. | London's Stansted Airport is being sold to the owner of Manchester Airport for £1.5bn, it has been announced. |
The airport is being sold by Heathrow Airport Holdings, formerly called BAA, which will continue to own London Heathrow, Southampton, Aberdeen, and Glasgow airports. | The airport is being sold by Heathrow Airport Holdings, formerly called BAA, which will continue to own London Heathrow, Southampton, Aberdeen, and Glasgow airports. |
Heathrow Airport Holdings had to sell Stansted as a result of a ruling by the Competition Commission. | Heathrow Airport Holdings had to sell Stansted as a result of a ruling by the Competition Commission. |
The sale is due to be completed next month. | The sale is due to be completed next month. |
Heathrow Airport Holdings chief executive Colin Matthews said: "Stansted Airport and its people have been part of our company for a long time. | |
"We wish the new owners every success and are confident the airport will continue to flourish. We will continue to focus on improving Heathrow, Glasgow, Aberdeen and Southampton airports." | |
Manchester Airport is owned by Manchester Airports Group, which is a holding company in turn owned by the 10 borough councils of Greater Manchester. | |
Heathrow Airport Holdings is owned by an international consortium led by Spanish infrastructure group Ferrovial. |