Court rules BAA must sell airports
13.10.10
UK airport operator BAA again faces being forced to sell Stansted and either Glasgow or Edinburgh after losing a Court of Appeal ruling. The Competition Commission ruled in March last year that the airports, along with Gatwick, must be sold in order to increase competition. BAA successfully appealed this decision, but the finding that there was ‘apparent bias’ in the commission's ruling has been overturned, it was announced today
BAA had successfully appealed against the compulsory sales to the Competition Appeal Tribunal in March - arguing that one of the competition commission inquiry panel had a connection with the owners of Manchester Airport, who had shown an interest in buying Gatwick. But Lord Justice Maurice Kay, Lord Justice Jacob and Lord Justice Patten found that the tribunal was wrong to find ‘apparent bias’ and restored the commission's original decision.
The ruling means the forced sale of the airports is now back on track, although the timetable for the sales will need to be reviewed. BAA has sold Gatwick for £1.5bn to US-based investment fund, Global Infrastructure Partners, last year. However the sale price was much lower than had previously been suggested for the airport. It could challenge the latest ruling, and also the timetable set out for the airport sales, which are unlikely to produce high prices in the current economic climate.
To book a stansted airport hotel or stansted airport car park at the lowest price, click on these links to two great stansted airport car parking and stansted airport hotel price comparison pages.
