Edinburgh Airport is to go on sale for upwards of £500m after the Competition Commission forced it to give up one of its Scottish hubs.
The operator BAA ,who run six UK airports, including Heathrow and Stansted, have decided to sell Edinburgh because it is valued at substantially more than Glasgow. The airport has continued to grow in visitor numbers despite the recession. It has added a number of new routes this year. There are a number of potential buyers for the airport
John Strickland, an aviation analyst at JLS Consulting, said: “Edinburgh Airport is performing much better than Glasgow, so it will be easier to sell in a difficult market. Edinburgh is more appealing because it has more high-paying business customers.”
Edinburgh was called “the jewel in the crown in Scotland,” by Douglas McNeill, an analyst at Charles Stanley, who said the airport could potential attract interest from a range of bidders.
These include Global Infrastructure Partners, a fund set up by General Electric and Credit Suisse, which bought Gatwick from BAA in 2009 in the first of a series of disposals ordered by the Competition Commission.
Manchester Airport, which bid unsuccessfully for Gatwick; Borealis Infrastructure, part of the consortium running the High Speed 1 rail link to the Channel Tunnel;, and Australia’s Macquarie are among the other potential bidders, Mr McNeill said.