BAA pockets £340m
09 Nov 2007
Ferrovial-owned BAA has sold its stakes in six Australian airports for A$775m (£340m) to an Australian entity managed by Hastings Fund Management.
The disposal comprises a 19.8% stake in Melbourne and Launceston, 15% in Perth and 10% interests in three Northern Territory airports.
BAA said the sale represented a continuation of its strategy to dispose of non-core international assets.
Separately, the company announced its seven UK airports reported a 3.5% year-on-year in passengers handled to 13.2m last month.
All seven saw traffic increase, with the exception of Glasgow, where it declined by 1.8% to 866.3k.
Aberdeen was up 6.6% at 319.4k, Southampton 5.7% at 179.1k, Edinburgh 5% at 820.2k, Gatwick 4.9% at 3.1m, Heathrow 3.9% at 5.8m and Stansted 1.8% at 2.1m.
On a market-by-market basis the strongest growth came in North Atlantic traffic, which was 8.9% higher than Oct06 at 1.7m, followed by other long-haul, up 8.5% at 2.1m.
Third best was European scheduled with a rise of 4.3% to 5.5m passengers, while Eire remained near flat (+0.4%) at 577.2k.
Domestic traffic declined by 2.4% year-on-year to 2.3m and European charter by 3.2% to 953.3k.