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| 20/08/2012 |
BAA To Sell Stansted Airport |
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Following a long-running legal battle, airports operator BAA has announced it will sell Stansted Airport.
BAA has been fighting a 2009 Competition Commission ruling that it must sell Stansted because of the lack of competition between London airports.
They had been told to sell off Stansted and Gatwick, but at the time of the ruling it had already started the process of finding a buyer for Gatwick.
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BAA said it had decided not to challenge the Stansted ruling in the Supreme Court, the last opportunity it had to appeal.
"We still believe that the Competition Commission ruling fails to recognise that Stansted and Heathrow serve different markets," it said.
When the inquiry process was launched five years ago, BAA owned seven UK airports, carrying 60% of all UK air passengers.
(H)
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