BAA To Sell Gatwick Airport Property

It appears that BAA are on the verge of selling off more of their property at Glasgow Airport as it struggles with its debts totalling £10 billion.

In March BAA sold 33 properties from both Edinburgh and Glasgow Airports well as selling office buildings to the Arora Family Trust as they had also done in 2006. The sale of property does not appear to be ending there however as rumours indicate that property may be sold off at Heathrow, Gatwick, Stansted and Glasgow Airports as well.

The sale of property is paramount to BAA as they are struggling to finance repayments of their loans which is being made increasingly difficult due to the current mortgage crisis in the US. Currently the sale of non-essential assets seems to be the best way to keep in the black for BAA as recent sales have generated much needed money for the payment of loans.

It is not only financial problems that have plagued BAA as of late. The problems at Terminal 5 at Heathrow have been a thorn in the side for the group as they attempt to build a case for a third runway at the London hub, as well as facing criticism after the CAA agreed to the rising of landing charges at both Gatwick and Heathrow Airports heavily criticised by budget airlines such as Easyjet and Ryanair.

Published by: Jon Vickery