Posts Tagged ‘Competition Commission’

Stansted Airport being sold to Manchester for £1.5bn: BBC News

Posted: January 19, 2013 in Aviation & Airports (General News), Heathrow, Manchester Airport, Stansted
Tags: , , , , , , , , ,
2

[BBC News] London’s Stansted Airport is being sold to the owner of Manchester Airport for £1.5bn, it has been announced.

Stansted's sale had been ordered by the Competition Commission.

Stansted’s sale had been ordered by the Competition Commission. Picture: Wikipedia

The airport is being sold by Heathrow Airport Holdings, formerly called BAA, which will continue to own London Heathrow, Southampton, Aberdeen, and Glasgow airports.

Heathrow Airport Holdings had to sell Stansted as a result of a ruling by the Competition Commission.

The sale is due to be completed next month

Heathrow Airport Holdings chief executive Colin Matthews said: “Stansted Airport and its people have been part of our company for a long time.

“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.”

Manchester Airport is owned by Manchester Airports Group, which is a holding company in turn owned by the 10 borough councils of Greater Manchester.

Heathrow Airport Holdings is owned by an international consortium led by Spanish infrastructure group Ferrovial.

The Competition Commission ruled in 2009 that the then BAA had to sell both Stansted and Gatwick due to concerns over a lack of competition between London’s three main airports, which, led by Heathrow, were all owned by the same company.

Read the rest of this story at BBC News…..

 

BBC News
19th Jan, 2012

Ryanair tries to buy Aer Lingus again: BBC News

Posted: June 19, 2012 in Airlines, Ireland
Tags: , , , , , , , ,
0

[BBC News] The budget airline Ryanair has launched another attempt to buy its biggest Irish rival Aer Lingus.

Ryanair chief executive Michael O'Leary said: "This offer represents a significant opportunity to combine Aer Lingus with Ryanair.... Photo: Wikipedia

Michael O’Leary said: “This offer represents a significant opportunity to combine Aer Lingus with Ryanair.   Photo: Wikipedia

Ryanair says it plans to make a cash offer for Aer Lingus, which would value it at 694m euros ($883m; £561m). Ryanair will make the offer through a subsidiary called Coinside.

Ryanair already owns 30% of Aer Lingus.

On Monday, Ryanair’s existing holding was referred to the UK’s Competition Commission for a probe that could lead to it being forced to sell the stake.

When Ryanair tried to buy Aer Lingus in 2006, its attempt was blocked by the European Commission.

It said the 1.30 euro offer was a premium of 38.3% above Tuesday’s Aer Lingus closing price.

Ryanair chief executive Michael O’Leary said: “This offer represents a significant opportunity to combine Aer Lingus with Ryanair, to form one strong Irish airline group capable of competing with Europe’s other major airline groups……

Read the full story at BBC News……

 

BBC News
19th June, 2012

Related articles

Ryanair stake in Aer Lingus referred to UK Competition Commission: Irish Examiner

Posted: June 18, 2012 in Airlines, Ireland
Tags: , , , , , ,
0

[Irish Examiner] The Office of Fair Trading (OFT) in the UK has referred Ryanair‘s stake in Aer Lingus to the Competition Commission.

Ryanair had sought to stop the investigation

Ryanair had sought to stop the investigation: Irish Examiner

The Commission has the power to force the low-cost carrier to sell-down its almost 30% stake in the airline, if it has found to be anti-competitive.

The OFT began its investigation two years ago and has found that Ryanair’s stake may give it the ability to exercise material influence over commercial policy at Aer Lingus.

It said that Ryanair has the ability to weaken Aer Lingus as a competitor and that its shareholding may confine Aer Lingus investment options.

As a result, it has now moved the case to the Competition Commission.

Ryanair had sought to stop the investigation, but this was dismissed by the UK Court of Appeal last month.

Read the original story at The Irish Examiner…..

The Irish Examiner
17th June

Related articles

BAA told it can appeal Stansted Airport sale: SW Reporter

Posted: May 28, 2012 in Aviation & Airports (General News), Stansted
Tags: , , , , , , , ,
0

[Saffron Walden Reporter] Airports operator BAA has been granted a further reprieve against selling Stansted after the Court of Appeal ruled in the firm’s favour.

The Competition Commission decided that BAA must sell Stansted

The Competition Commission decided that BAA must sell Stansted. Photo: Wikipedia

Today’s decision means the company can now appeal against the Competition Appeal Tribunal’s judgment on February 1 which had backed the Competition Commission’s decision that BAA must sell Stansted, Gatwick and one of its two Scottish airports, Edinburgh or Glasgow.

Gatwick was auctioned off in 2009, while the sale of Edinburgh was announced in April this year.

A BAA spokesman said: “We are pleased that permission to appeal has been granted and look forward to presenting our arguments before the Court of Appeal.”

  Read the original story at The Saffron Walden Reporter…..

SW Reporter
Monday, May 28, 2012 

Related articles

Carlyle Group & 3i drop out of Edinburgh Airport contest

Posted: March 24, 2012 in Edinburgh Airport
Tags: , , , , , , , , , , ,
0

[Financial Times] The ranks of bidders for Edinburgh Airport have halved this week, with two groups of investors dropping out of the contest for an asset expected to raise £400m-£600m for its owner, BAA.

The sale of Scotland’s biggest airport attracted four indicative offers last month. But a consortium led by UK-listed 3i has withdrawn from the process, following close behind a group led by Carlyle, the US group …..

More on this story at the FT…..

Financial Times
24th March, 2012

Related articles