Airports operator BAA has agreed to sell Stansted Airport, following a three year legal battle with the Competition Commission.
In 2009 the Competition Commission ruled that it must sell Stansted because of the lack of competition between London airports.
BAA was ordered to sell off Stansted and Gatwick, in addition to selling off either Glasgow or Edinburgh airports.
The airport operator has since sold Gatwick Airport and Edinburgh Airports as part of the ongoing tussle with the commission.
BAA said in a statement that having carefully considered the Court of Appeal’s recent ruling, BAA has decided not to appeal to the Supreme Court and is now proceeding with the sale of Stansted Airport.
“We still believe that the Competition Commission ruling fails to recognise that Stansted and Heathrow serve different markets.” The statement said.
Manchester Airports Group, South Korea’s Incheon airport and Ryanair are among companies that have since been linked to a possible bid for Stansted.
Stansted is London’s third busiest airport and the UK’s fourth.