Stansted to be sold for £1.5bn

The company formerly known as BAA is to sell Stansted airport to the Manchester Airports group for £1.5 billion.

The deal, announced late this evening, will mean that BAA - now known as Heathrow Airport Holdings - will be responsible for just four UK airports compared with its original seven.

The remaining ones are Heathrow, Southampton, Aberdeen and Glasgow.

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New owners at Stansted

The company formerly known as BAA has sold Stansted airport in Essex to the Manchester Airports Group for £1.5 billion.