BAA has agreed to sell its 100% interest in Gatwick, the second busiest airport in the UK, to Global Infrastructure Partners for a fee of £1.51bn.
Gatwick Airport could be in the hands of a new owner this week, as BAA moves closer to closing a deal with Global Infrastructure Partners, a joint venture between Credit Suisse and General Electric for an estimated £1.6 billion.
Premier Inn will be opening four new hotels at London’s main airports from Autumn 2011. The budget hotel chain will open two hotels at Heathrow and one at Gatwick and one at Stansted, creating a total of 1,570 new rooms. Premier Inn is spending more than £125 million on the developments.
Air Malta is increasing capacity on its London Gatwick - Malta route this winter, with 2 flights per week during the months of November and March. This means that instead of a daily service to London Gatwick, Air Malta will operate 9 weekly flights.
Aer Lingus is launching six more routes from its new Gatwick hub - Bucharest, Eindhoven, Tenerife, Lanzarote, Warsaw and Vilinus for winter this year.Its current flights to Dublin, Faro, Knock, Malaga, Munich, Vienna and Zurich will continue, but it will drop Nice during the winter months. With the addition of these new routes, the airline will operate 118 round trips a week.
Gatwick Airport could be fetch as little as £1.3 billion when it is auctioned off, rather than the £2billion-plus BAA is hoping for, according to a secret report commissioned by three of the airport’s largest airlines - Virgin Atlantic, Tui and TUI.The report valued Gatwick between £1.33billion and £1.73billion last December. Traffic has subsequently slumped sharply in 2009 which could erode this range even further.
The Competition Commission has begun vetting bidders for Gatwick to ensure that they are ready and able to run operations at the UK’s second-busiest airport. The government watchdog has set out criteria that potential new owners of Gatwick must meet. Any bidder considered to have insufficient funds or experience running an airport will be blocked from submitting a final bid.
One of the favourites in the bidding for Gatwick airport has pulled out of the auction amid speculation it was neither ready nor able to meet the £2bn price tag asked by Ferrovial.BAA has dismissed the overvaluation claims by 3i Infrastructure, saying the market would dictate the price and it was confident of achieving offers at a significant premium to its Regulated Asset Base of £1.65bn.
The global downturn has forced the number of long-haul passengers flying from Gatwick Airport to drop by almost a quarter (24 percent) last month compared to January 2008.BAA also reported a slump in traffic across all its seven airports - down 6.3 percent in January to 9.4 million. This comes on top of a fall of 6.9 percent in December and 8.9 percent in November.
The airline industry could face a £10 million bill from cancelled flights after the heaviest snow in the UK for 18 years brought chaos to airports. Services at Heathrow, Gatwick, Stansted, Luton, London City Airport and Southampton were severely disrupted, together with road, rail and public transport connections.At Heathrow, a plane slipped off a taxiway. Snow and ice are being blamed for the incident which happened when a Cyprus Airways flight landed this morning and was moving to T1.
Breaking Travel News interviews Gerard Clarke, General manager UK & Ireland for Oasis Hong Kong. Gerard talks about the improvement of its business class product and the introduction of a lounge at Gatwick Airport. The interview was conducted at the Business Travel Show, Earls Court, London.