Stansted 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 means the company will be responsible for just four UK airports compared with its original seven.

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Why did BAA have to sell Stansted Airport?

BAA's old flag at Stansted Airport Credit: Chris Radburn/PA Wire

Heathrow Airport Holdings - the company formerly known as BAA - had its ownership of Stansted brought into question when the Office of Fair Trading referred the company's holding to the Competition Commission (CC).

After a long inquiry the CC ruled that BAA's airport ownership was uncompetitive.

The commission ruled in 2009 that BAA must sell Gatwick and Stansted and one of either Edinburgh or Glasgow airports. Gatwick had already been sold by the time of the ruling and since then BAA has sold Edinburgh.

Former Stansted owner 'proud of its achievements'

The chief executive of Heathrow Airport Holdings - formerly known as BAA - had this reaction to the sale of Stansted Airport:

Stansted airport and its people have been part of our company for a long time.

It has been named by passengers as 'the world's best airport for low-cost airlines' for two consecutive years at the Skytrax World Airport Awards, and we are proud of its achievements.

We wish the new owners every success and are confident the airport will continue to flourish. We will continue to focus on improving Heathrow, Glasgow, Aberdeen and Southampton airports.

– Colin Matthews, chief executive, Heathrow Airport Holdings

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Stansted sold to Manchester Airports group for £1.5bn

An aeroplane on the tarmac at Stansted Airport, which is being sold to a rival group. Credit: PA

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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