Heathrow owner sells off three other UK airports

Heathrow owner sells off three other UK airports

The owner of Heathrow has sold off its three other UK airports in a £1.05bn deal that means the company previously known as BAA will now operate only its flagship London hub.

Heathow Airport Holdings has sold the sites at Aberdeen, Glasgow and Southampton to a 50:50 consortium formed by Spain’s Ferrovial and Australia’s Macquarie.

The company had previously operated seven airports but an inquiry by the Competition Commission ordered it to be broken up.

By the time of the ruling it had already sold Gatwick, later disposing of Edinburgh and announcing the sale of Stansted last year.

The latest sale, whose value includes cash as well as debt assumed by the buyer, is expected to close no later than January 2015.

Heathrow chief executive John Holland-Kaye said: “This sale enables us to focus on improving Heathrow for passengers and winning support for Heathrow expansion.

“Heathrow is the UK’s only hub airport, connecting the whole of the UK to the world and bringing economic benefits locally and nationally.”

Ferrovial chief executive Inigo Meiras said: “We are committed to improve these facilities and their services looking to a better passenger experience and in order to grant access to further domestic and international destinations.”

Heathrow itself is 25% owned by Ferrovial with other stakes controlled by investment vehicles from Qatar, Quebec, Singapore, the US, and China.

:: Aberdeen sees 3.4 million passengers and 118,000 flights pass through every year, while 2,500 people work at the site including 259 airport employees. It also operates the world’s busiest commercial heliport, transporting more than 500,000 passengers in support of the North Sea oil and gas industry.

:: Glasgow is Scotland’s principal long-haul airport and sees 7.4 million passengers and 80,000 flights a year, with 4,500 working there including 417 airport employees.

:: Southampton serves 1.7 million passengers with 40,000 flights a year, with 1,200 jobs at the site including 185 airport employees.

More in this Section

Covid-19: Ryanair to take €300m hit, but still in profitCovid-19: Ryanair to take €300m hit, but still in profit

Dire US jobs numbers drive further selloff for global markets amid Covid-19 falloutDire US jobs numbers drive further selloff for global markets amid Covid-19 fallout

Pressure builds on insurer FBD over dividend payout amid Covid-19 crisisPressure builds on insurer FBD over dividend payout amid Covid-19 crisis

Penneys owner cuts executive salariesPenneys owner cuts executive salaries


Lifestyle

I lead a very busy life — I’m a mature student in college — and I separated from my partner but the separation was my decision. I hate myself when it beckons as it ultimately makes me fatter, it has the reverse effectDear Louise: I had my bulimia under control. But the demon has returned

This year has been particularly difficult and stressful, and I think that’s an even more important reason to make time for your health.Derval O'Rourke: Resistance is far from futile and necessary

Best-selling author Faith Hogan is keeping the faith during the lockdown, thanks to her Moy Valley haven in Ballina, Co Mayo.Shape I'm in: Keeping the Faith during lockdown

Are you and your family venturing into the room outside? Peter Dowdall has some useful advice.Now that the world’s on gardening leave, are you venturing into the room outside?

More From The Irish Examiner