Auction for Gatwick Airport commences this week
The £2 billion auction for London's Gatwick Airport will begin later this week, organised by airports group BAA.Sales details will be issued to a number of potential buyers, including two existing bidding consortiums lead by Vancouver Airports Authority and Virgin Atlantic, respectively.
The Competition Commission is also addressing what it refers to as BAA's monopoly in Scotland and the south-east, with indications suggesting that the organisation will be asked to sell three additional airports.
Virgin Atlantic has formed a partnership with Manchester Airports Group, while EasyJet may also enter a final agreement.
The Vancouver bid will involve funding from Citigroup and finance service John Hancock.
This consortium may be about to pull out of a proposed $2.4 billion purchase of Chicago's Midway airport, which would free them to focus on Gatwick.
The consortiums are predicted to make their opening bids early in the New Year.
Reports suggest that 3i, the private equity group, may also enter a bid for the airport.
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Posted by Graham Greenaway on the 01/12/2008 16:25:27
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