Stansted Airport to be sold by BAA
Published: 20th Aug 2012 10:57:49
Airports operator BAA has decided to sell Stansted Airport, ending its long-running legal battle.
It has been fighting a 2009 Competition Commission ruling that it must sell Stansted because of the lack of competition between London airports.
BAA was told to sell off Stansted and Gatwick, but by then it had already started the process of finding a buyer for Gatwick.
It was also ordered to sell off either Glasgow or Edinburgh airports.
BAA said it had decided not to challenge the Stansted ruling in the Supreme Court, the last opportunity it had to appeal.
"We still believe that the Competition Commission ruling fails to recognise that Stansted and Heathrow serve different markets," it said.
Stansted is London's third busiest airport and the UK's fourth.
When the inquiry process was launched five years ago, BAA owned seven UK airports, carrying 60% of all UK air passengers.
It had a virtual monopoly over airports in the South East of England, where Heathrow, Gatwick, Stansted and Southampton carried 90% of air passengers in the area.
Its Scottish airports - Edinburgh, Glasgow and Aberdeen - accounted for 84% of airport passengers in Scotland.
BAA has recently completed the sale of Edinburgh airport.
At 19:39:42 in EnglandThe family of a man who died, despite seven 999 calls for an ambulance, said he was failed in his "moment of need".
At 19:38:42 in SportNetherlands keeper Michel Vorm believes Louis van Gaal would be the ideal choice as Manchester United manager.
At 19:32:11 in EnglandHeathrow Airport is gearing towards the opening of its new Terminal 2 by unveiling Europe's largest privately funded sculpture.
At 19:27:52 in EnglandThe death of a 10-year-old boy who was hit by a car as he crossed the road outside his house was accidental, an inquest has heard.
At 19:13:07 in PoliticsPrivate parking firms paid more than £6m to the DVLA for the names and addresses of drivers in the past year - an increase of 28%, figures suggest.
At 19:12:17 in EnglandPoppies have been planted as part of a social media campaign to mark the First World War in Jersey.
At 19:11:22 in WalesGriff Rhys Jones has withdrawn from becoming Cardiff University's new chancellor just two weeks after an embarrassing debacle which saw his appointment halted at the last minute.
At 19:04:14 in EnglandA theatre company is hoping to have set a new world record by performing an abridged version of Shakespeare's works at more than 37,000ft (11,278m).
At 18:56:33 in WorldThe Iron Curtain fell 25 years ago, but it seems that nobody told the deer.
At 18:54:46 in EnglandA council is expanding the size of graves to accommodate obese people - and could charge extra for larger people to be buried in them.
Harvard CitationBBC News, 2012. Stansted Airport to be sold by BAA [Online] (Updated 20th Aug 2012)
Available at: http://www.ukwirednews.com/news/1447081/Stansted-Airport-to-be-sold-by-BAA [Accessed 23rd Apr 2014]
News In Other Categories
The family of a man who died, despite seven 999 calls for an ambulance, said he was failed in his "moment of need".
Griff Rhys Jones has withdrawn from becoming Cardiff University's new chancellor just two weeks after an embarrassing debacle which saw his appointment halted at the last minute.
Private parking firms paid more than £6m to the DVLA for the names and addresses of drivers in the past year - an increase of 28%, figures suggest.
Portugal's chances of exiting its three-year bailout programme rose after the sale of 10-year government debt fell sharply to a record low 3.57%.
The Iron Curtain fell 25 years ago, but it seems that nobody told the deer.
Mexican writer and journalist Elena Poniatowska has received the most important award for literature in the Spanish language, the Cervantes prize.