BAA To Possibly Sell George Best Belfast City Airport Soon
Tuesday 8th April 2008Rumors are rife that BAA (British Airports Authority) are in talks to sell George Best Belfast City Airport.
The Spanish owners of BAA, Ferrovial have been in the news regarding the level of debt that they are currently facing and they are in the process of disposing of certain assets to help them keep up with their mounting payments.
Belfast City Airport was purchased by BAA in 2003 for the sum of £35 million and has developed a huge amount in this time. It now offers flights to airports such as London City, Heathrow, Birmingham, Manchester, Paris Geneva and Salzburg Airports.
A publication in Ireland, The News Letter has reported that up to eight individual parties have shown interest in Belfast City Airport however the airport itself denies that it is for sale. Airlines such as Ryanair, BMI and Flybe all operate from Belfast City Airport and the estimated price it will fetch when it goes up for sale is rumoured to be around £100-150 million
BAA has already disposed of some of its non-essential assets as earlier this month it sold its chain of duty free shops to Italian group Autogrill for an estimated £546 million. It has also sold 33 commercial buildings to the airport hotel organisation Arora for £265 million in addition to the nine airports that BAA sold Arora in 2006 for a sum of £300 million.
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Published by: Jon Vickery
