BAA TO SELL EDINBURGH AIRPORT

Following the Competition Commission’s decision requiring BAA to sell either Edinburgh or Glasgow airport, BAA is today announcing that it has decided to sell Edinburgh airport.

BAA is now commencing preparations for a sale and expects to formally approach the market in the New Year with a view to agreeing a sale by Summer 2012.

BAA Chief Executive, Colin Matthews said: “Edinburgh is a great airport with a great team and a great future and we will be very sorry to see it leave BAA. We remain committed to Scotland and we will continue our long-term investment to improve passenger and airline experience at Aberdeen and Glasgow, as well as at Edinburgh until the sale is complete.

Choosing which airport to sell has been a difficult decision. Edinburgh Airport has shown itself to be a strong and resilient asset throughout the economic downturn. Passenger numbers at Edinburgh have grown by more than 6% over the past year and in an uncertain market we expect it to be an attractive asset to prospective buyers. Glasgow Airport has great opportunities for future growth and development and we think BAA is well-placed to build on its recent success. Both airports are of national importance and have a bright future.”

Edinburgh Airport is Scotland’s largest airport with approximately 9.2m passengers passing through it every year and with over 100,000 flights. 2011 has seen the airport named Best European Airport (5-10m Passengers) by ACI Europe and consolidate its position as the fifth largest airport in the UK with the best passenger numbers in its history. Passenger numbers have grown by 6.1% over the last 12 months and by 9.5% since the start of 2011. Around 40 airlines connect Edinburgh to over 120 destinations. The airport is also a burgeoning cargo hub with 10,200 tonnes of cargo in the past year.

Edinburgh Airport directly employs 485 staff and supports 7,500 jobs across Scotland.

A £42m investment in 2010 in the departure lounge and security hall has improved the customer experience and provided the airport with the platform to develop and attract further long haul and short haul routes.

As well as winning awards in 2011, Edinburgh Airport has attracted nearly 20 new routes. Easyjet has recently based a new aircraft at the airport, opening up several new destinations.

MTB 20/10/11