BAA agrees to sell Stansted Airport

Stansted airport is to be sold off after its owner BAA gave up on its long legal battle today.

The Spanish company, which recently lost a Court of Appeal ruling over the Essex airport, said it would not make a further appeal and accepts it has to sell it. The Competition Commission (CC) ruled that BAA must dispose of Gatwick, Stansted and one of its Scottish airports following an inquiry into the company’s airport ownership.

Gatwick was sold to Global Infrastructure Partnerships (GIP) in December 2009 and GIP also took over Edinburgh Airport last year.But then BAA mounted a series of legal challenges to the CC ruling, with the latest one – against the sale of Stansted – ending in defeat at the High Court in July this year.

After that latest loss, BAA said it would appeal to the Supreme Court but today the Spanish-owned company signalled an end to its fight to hang on to Stansted.

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Read more: http://www.dailymail.co.uk/news/article-2190916/Stansted-Airport-sold-owners-BAA-concede-defeat-year-legal-battle.html#ixzz24B05B65l