Whitehall forces Heathrow Airport to sell Stansted for US$2.4 billion

LONDON's Stansted Airport is being sold by Heathrow Airport Holdings (formerly BAA) to the owner of Manchester Airport for GBP1.5 billion (US$2.4 billion) by order of the UK Competition Commission that earlier forced it to sell Gatwick.

Following the sale of Stansted that is scheduled for completion in February, Heathrow Airport Holdings will continue to own London Heathrow, Southampton, Aberdeen, and Glasgow airports.

The sale would effectively implement the Competition Commission's ruling in 2009 that BAA must sell both Stansted and Gatwick airports, due to concerns over a lack of competition since London's three main airports would all be owned by the same company, reports Lloyd's Loading List.

BAA began the process to sell Gatwick, but launched a legal challenge against the order to sell Stansted, the UK's fourth busiest airport. The battle ended in August last year, when the company announced that Stansted was up for sale.

Said Heathrow Airport CEO Colin Matthews: "Stansted Airport and its people have been part of our company for a long time. We wish the new owners every success and are confident the airport will continue to flourish."

Manchester Airports Group is a holding company owned by the 10 borough councils of Greater Manchester. Manchester Airport is the third busiest in the UK.