Gatwick airport sold

Ferrovial, the Spanish company that owns UK airport operator BAA, has sold Gatwick airport for 1.657 billion euros to Global Infrastructure Partnership, owners of London City Airport.

The sale is expected to be completed by December 3 and 60.4 million euros of the sale price will be paid at a later date and is linked to future air traffic at this London airport.

Gatwick airport, which is the busiest single runway airport in the world, was one of seven airports owned by Ferrovial in the UK.

Competition authorities in the UK ordered BAA to sell Gatwick, Stansted and Edinburgh to reduce its net debt and strengthen its financial position.