Heathrow and Gatwick have become the latest airports to be closed amid fresh fears about volcanic ash from Iceland. The Civil Aviation Authority has decided to shut the two key London airports as a safety precaution.
The Competition Appeal Tribunal (CAT) has ruled BAA may maintain its present position in the UK market, quashing an earlier decision by the Competition Commission.
The new owners of Gatwick Airport have ruled out plans to build a second runway, saying there was “not a shred of interest”.
Abu Dhabi Investment Authority is to buy a 15 per cent stake in Gatwick Airport for £125 million. The purchase by the world’s largest sovereign wealth fund comes in the same week as South Korea’s National Pension Service bought a 12 per cent stake in the UK’s second largest airport for £100 million.
South Korea’s National Pension Service is to take a 12 per cent stake in Gatwick airport, worth about £100 million. The deal could be completed as early as next week and comes as part of a sweeping international expansion programme by the world’s fifth biggest pension fund.
Snow continued to fall across the UK creating fresh chaos for travellers and closing Gatwick Airport for the second time in a week. Heathrow is currently open but airport operator BAA is warning of cancellations and delays due to the weather. Birmingham Airport and Cardiff Airport were also closed but both have now reopened but warned of severe delays and cancellations.
The new owner of Gatwick has earmarked the elimination of long check-in and security queues as a top priority upon taking control of Britain’s second largest airport this week. The investment fund Global Infrastructure Partners is expected to close the £1.5bn deal by the end of this week, subject to European Commission approval.
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.