News Item

Manchester buys Stansted

Manchester Airports Group (MAG) has bought Stansted Airport from Heathrow Airport Holdings.

MAG has paid £1.5 (~€1.8, $2.4) billion to the Stansted owners, formerly 'BAA'. And, as part of the transaction, an Australian investment group has become part of MAG, taking a 35.5% stake in the enlarged group.

It is reported that Australia's Macquarie and Malaysia Airports Holdings had also been bidding for Stansted.

The Stansted sale - as was the Gatwick disposal - is the result of the UK Competition Commission's market investigation into the former BAA's extensive airport ownership.

Stansted is the UK's fourth busiest airport - behind Heathrow, Gatwick and Manchester - handling just under 18 million passengers in 2012.

Details from Reuters below . .

  • 19 January 2013
  • CMAG

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