Clear the runways please at Gatwick Airport. A new owner will be flying in soon as BAA Ltd., the Spanish-owned operator of a clutch of major British airports, said Wednesday it is looking for a buyer for Gatwick after antitrust regulators ruled the group should be split up.
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Southeast England's Gatwick, which served 35 million travelers last year, could fetch as much as £3 billion ($5.4 billion), according to one analyst. Potential buyers include Britain's No. 2 airline, Virgin Atlantic Airways Ltd., whose CEO said Wednesday it would "relish" the chance to buy the airport.
The U.K. Competition Commission on Aug. 20 said that BAA, which is owned by Spanish builder Ferrovial SA, should be forced to sell two of three of its London airports, which also include Stansted and Heathrow, the world's busiest airport. It also said the company should sell either its Glasgow or Edinburgh airport in Scotland. - Paul Whitfield
See TheDeal.com: Regulator: Break up London airports (subscription required)
