Airports for Sale - Any Bidders

The confirmation from the Competition Commission that Ferrovial will be required to sell three of their UK airports represents one of the most important competition rulings of recent years.

BAA has been much maligned in recent years criticised by a growing cohort of passenger groups and airlines who have complained about high fees, poor customer service. Ferrovial will now be required to sell Gatwick, Stansted and one of either Glasgow or Edinburgh airports within two years but it will retain control of that small take off and landing strip west of London close to Windsor Castle. The timing might have been better for Ferrovial as the economic crisis hits the aviation industry - but a report in the Financial Times hinted that the combined value of the three airport sales could total between £3.5bn and £4bn. Bids are expected to come from foreign airports, infrastructure funds, pension funds and from sovereign wealth funds. Watch out for rumours and counter-rumours of bidders as they put together some proposals. Will the active interest of sovereign wealth funds stoke more controversy about latent economic nationalism?

The full Competition Commission report is available here