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.

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