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BAA Ordered To Sell EDI, STN And LGW  
User currently offlineNighthawk From UK - Scotland, joined Sep 2001, 5157 posts, RR: 33
Posted (5 years 9 months 2 weeks 5 days 19 hours ago) and read 3379 times:

The investigation into BAAs monopoly is almost complete, and the report is expected to order BAA to sell Edinburgh, Stansted and Gatwick.

A final consultation will be held before the deal is finalised

Quote:

The Competition Commission has said it will require BAA to sell Gatwick, Stansted and Edinburgh airports.

The watchdog says the decision is subject to a final consultation but is necessary to improve levels of service at UK airports.

In August, the watchdog had said BAA may have to sell three of its airports because of a lack of competition.

Source: http://news.bbc.co.uk/2/hi/business/7787040.stm

[Edited 2008-12-17 04:25:25]


That'll teach you
13 replies: All unread, jump to last
 
User currently offlineRevelation From United States of America, joined Feb 2005, 12597 posts, RR: 25
Reply 1, posted (5 years 9 months 2 weeks 5 days 19 hours ago) and read 3341 times:

If I were BAA, I'd be pissed. It was the government that set up BAA and sold it to Ferrovial, and now it's the government telling them they can't keep them.

If I were the taxpayer/consumer, I'd be glad. We've managed to offload these money loosing airports, and now we're screwing over the company that paid us for them.

BTW I think the link you wanted to post is:

http://news.bbc.co.uk/2/hi/business/7787040.stm



Inspiration, move me brightly!
User currently offlineBrianDromey From Ireland, joined Dec 2006, 3920 posts, RR: 9
Reply 2, posted (5 years 9 months 2 weeks 5 days 19 hours ago) and read 3321 times:



Quoting Revelation (Reply 1):
If I were BAA, I'd be pissed. It was the government that set up BAA and sold it to Ferrovial, and now it's the government telling them they can't keep them.

I thought the BAA was privatised by floating it on the LSE, quite a while back under Thatcher? Ferroval only purchased BAA recently and certainly not directly from the government. I think the number of meldowns and airline complaints that made the Mergers and Monopolies board have a look at BAA.

Brian.



Next flights: MAN-ORK-LHR(EI)-MAN(BD); MAN-LHR(BD)-ORK (EI); DUB-ZRH-LAX (LX) LAX-YYZ (AC) YYZ-YHZ-LHR(AC)-DUB(BD)
User currently offlineNighthawk From UK - Scotland, joined Sep 2001, 5157 posts, RR: 33
Reply 3, posted (5 years 9 months 2 weeks 5 days 19 hours ago) and read 3282 times:



Quoting Revelation (Reply 1):
If I were BAA, I'd be pissed. It was the government that set up BAA and sold it to Ferrovial, and now it's the government telling them they can't keep them.

BAA was privatised years before it was sold to Ferrovial. The government had nothing to do with the sale.

Additionally, all of BAAs airports are profit making, and have been for years.



That'll teach you
User currently offlineBongodog1964 From United Kingdom, joined Oct 2006, 3602 posts, RR: 3
Reply 4, posted (5 years 9 months 2 weeks 5 days 17 hours ago) and read 3179 times:

Ferrovial were warned by the regulators prior to purchasing BAA, that they shouldn't expect any leniency, particularly over the level of debt they were incurring.

If this report becomes law, Ferrovial will be left holding 3 airports bought when prices were high, which they will need to sell off in a depressed market. At this point the folly of paying over the odds for BAA might finally dawn on them.


User currently offlineBurkhard From Germany, joined Nov 2006, 4398 posts, RR: 2
Reply 5, posted (5 years 9 months 2 weeks 5 days 17 hours ago) and read 3087 times:

For Stansted they have a bidder already.

User currently offlineAntonovman From United Kingdom, joined Mar 2001, 720 posts, RR: 1
Reply 6, posted (5 years 9 months 2 weeks 5 days 16 hours ago) and read 3001 times:



Quoting Burkhard (Reply 5):
For Stansted they have a bidder already.

Let me guess, Michael O'Leary says hes going to buy it ??


User currently offlineBongodog1964 From United Kingdom, joined Oct 2006, 3602 posts, RR: 3
Reply 7, posted (5 years 9 months 2 weeks 5 days 15 hours ago) and read 2905 times:



Quoting Antonovman (Reply 6):
Quoting Burkhard (Reply 5):
For Stansted they have a bidder already.

Let me guess, Michael O'Leary says hes going to buy it ??

Ferrovial's idea of a fair price, is probably a little more than the free return trip to Dublin, with priority boarding and a complimentary cup of coffee that Ryanair offered  Big grin  Big grin  Big grin


User currently offlineGpbcroppers63 From Ireland, joined Jan 2008, 520 posts, RR: 0
Reply 8, posted (5 years 9 months 2 weeks 5 days 14 hours ago) and read 2800 times:

Quoting Bongodog1964 (Reply 7):
Ferrovial's idea of a fair price, is probably a little more than the free return trip to Dublin, with priority boarding and a complimentary cup of coffee that Ryanair offered

Hang on. That sounds nothing like Ryanair. Their offer would be a free flight to Dublin but then Ferrovial have to pay taxes, fees, credit card charge, and the coffee most certainly would not be free  . I do love Ryanair though as I've just paid €28 all in for a return from SNN-STN next February and I consider that quite expensive for them Big grin

[Edited 2008-12-17 09:45:33]


According to one of my colleagues, my problem is that I'm addicted to travel!
User currently offlineAirbusA6 From United Kingdom, joined Apr 2005, 2013 posts, RR: 0
Reply 9, posted (5 years 9 months 2 weeks 5 days 11 hours ago) and read 2605 times:

But if Ryanair owned the airport, who would they be able to complain about?

"Those Ryanair f888ers are really screwing us over their landing charges, we're moving to Easywick instead"

It's unfortunate timing, as the credit crunch will restrict availability of finance, when compared with a year or 2 ago, when private equity was awash with cash for such ventures. After all, where did Ferrovial get the cash to buy BAA in the first place  scratchchin 



it's the bus to stansted (now renamed national express a4 to ruin my username)
User currently offlineRevelation From United States of America, joined Feb 2005, 12597 posts, RR: 25
Reply 10, posted (5 years 9 months 2 weeks 5 days 8 hours ago) and read 2497 times:



Quoting Nighthawk (Reply 3):
BAA was privatised years before it was sold to Ferrovial. The government had nothing to do with the sale.

So, if I may ask, who owned BAA before Ferrovial?

Quoting Nighthawk (Reply 3):
Additionally, all of BAAs airports are profit making, and have been for years.

Hmm, our government only privatizes things that loose money!



Inspiration, move me brightly!
User currently offlineBurkhard From Germany, joined Nov 2006, 4398 posts, RR: 2
Reply 11, posted (5 years 9 months 2 weeks 4 days 22 hours ago) and read 2390 times:

I remember the last time he offered a few billion pounds, not a few free flights. AFAIK, he even pays Boeing for the 737-800 in cash, not in tickets.

User currently offlineAirbusA6 From United Kingdom, joined Apr 2005, 2013 posts, RR: 0
Reply 12, posted (5 years 9 months 2 weeks 4 days 21 hours ago) and read 2376 times:



Quoting Revelation (Reply 10):
So, if I may ask, who owned BAA before Ferrovial?

It was a publicly listed company on the London Stock Exchange



it's the bus to stansted (now renamed national express a4 to ruin my username)
User currently offlineNighthawk From UK - Scotland, joined Sep 2001, 5157 posts, RR: 33
Reply 13, posted (5 years 9 months 2 weeks 4 days 19 hours ago) and read 2301 times:



Quoting Revelation (Reply 10):

So, if I may ask, who owned BAA before Ferrovial?



Quoting AirbusA6 (Reply 12):

It was a publicly listed company on the London Stock Exchange

Correct, Maggie Thatcher sold BAA off in 1987, it has been privately held and traded on the LSE since then.



That'll teach you
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