BAA launches appeal against forced airport sales
Tuesday October 20, 2009
BAA's appeal against the March Competition Commission ruling ordering it to sell three of its seven UK airports (London Gatwick, Stansted and either Edinburgh or Glasgow International) within two years was launched yesterday at the Competition Appeal Tribunal.
The UK airports authority is arguing that the CC's findings are unlawful because of "proportionality" and an "apparent bias" it claims exists due to a link between a member of the ruling panel and an organization interested in buying the airports. BAA claimed the Commission failed to take into account material considerations tied to selling the airports, particularly within the context of the current financial and economic environment.
Despite the appeal, BAA already has put Gatwick up for sale to meet competition concerns. According to Bloomberg News, Global Infrastructure Partners is close to an agreement to acquire LGW for about £1.4 billion ($2.29 billion). It did not cite sources. "We are working to no specific deadline, and no transaction has been agreed with any party," a BAA spokesperson said. GIP already owns London City.
by Cathy Buyck
ATWOnline
Tuesday October 20, 2009
BAA's appeal against the March Competition Commission ruling ordering it to sell three of its seven UK airports (London Gatwick, Stansted and either Edinburgh or Glasgow International) within two years was launched yesterday at the Competition Appeal Tribunal.
The UK airports authority is arguing that the CC's findings are unlawful because of "proportionality" and an "apparent bias" it claims exists due to a link between a member of the ruling panel and an organization interested in buying the airports. BAA claimed the Commission failed to take into account material considerations tied to selling the airports, particularly within the context of the current financial and economic environment.
Despite the appeal, BAA already has put Gatwick up for sale to meet competition concerns. According to Bloomberg News, Global Infrastructure Partners is close to an agreement to acquire LGW for about £1.4 billion ($2.29 billion). It did not cite sources. "We are working to no specific deadline, and no transaction has been agreed with any party," a BAA spokesperson said. GIP already owns London City.
by Cathy Buyck
ATWOnline