Gatwick sale ââ¬Ëœon scheduleââ¬â¢

 

 

Airports operator BAA says the sale of Gatwick is ‘on schedule’ .

 

The disclosure came as the operator of UK airports such as Heathrow, Stansted, Glasgow and Edinburgh released its 2008 financial results.

 

The company suffered a steep drop in operating profit, down to £23 million from £476 million.

 

The number of passengers using its airports declined from 150 million in 2007 to 145.8 million last year.

 

BAA is facing demands from the Competition Commission to sell three of its seven UK airports, including two in the south east and one in Scotland.

 

The sale of Gatwick is expected to be completed in the first half of this year following initial bids received last month.

 

"The sale of Gatwick will be an important milestone in the development of the business during 2009 and is expected to be completed in the first half of the year," the company said.

 

Looking forward, BAA said: "2009 is expected to be a challenging year with the economic environment expected to have a continued impact on passenger traffic."

 

by Phil Davies