Another of BAA’s airports has been sold on, this time Edinburgh.
The UK Competition Commission ordered the company to sell London Gatwick, Stansted and either Edinburg or Glasgow airports. The sale of Gatwick has already happened, and now it has been announced that Global Infrastructure Partners (GIP) will buy Edinburgh for a whopping £807 million.
Interestingly, GIP are the new owners of Gatwick, and also have a 75% share in London City Airport. Does this mean they’re forming their own monopoly which will one day need to be sold off too?
Either way, this will be good news for Edinburgh which is likely to see a lot of growth and investment in the near future. GIP have already turned around the fortunes of Gatwick, so expect them to do the same.
The deal is expected to be done in May, so whether this will mean new discussions with Ryanair after they decided to pull a bunch of routes out of Edinburgh last week over fees is yet to be seen.
Photo (c) Paul McIlroy