BAA will sell Edinburgh Airport as it is more attractive to bidders
20.10.11
BAA chose to sell Edinburgh rather than Glasgow Airport because it thinks Edinburgh will attract more bidders and comand a higher price. BAA chief executive Colin Matthews said: ‘I want to be clear that we would prefer to keep both airports, but given we had to sell one the decision was pretty straightforward.’ He said Edinburgh, the larger of the two airports by of passengers and flights, would be easier to sell.
Mr Matthews said Edinburgh should ‘generate a long line of bidders’ as it had proved to be resilient during the economic downturn. Passenger numbers have grown 6.1% over the last 12 months and 9.5% since the start of the year.
The company expects to formally put the airport on the market in the New Year with a view to agreeing a sale by next summer. Press reports have suggested Edinburgh could be worth £700m - £1bn, compared to £500m for Glasgow.
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