Buyer circles Gatwick shares

As previewed in BTN last week, Gatwick on Thursday set out an ambitious vision for the future – and was immediately caught up in reports that Canada's biggest pension fund was in talks to buy a big stake in the airport.

Sky News said the Canada Pension Plan Investment Board (CPPIB) was preparing a deal that could be worth more than £3bn to buy out Global Infrastructure Partners (GIP), Gatwick's biggest shareholder since 2009.

GIP owns 42% of Gatwick but is expected to retain a management contract even if it sells most or all of its direct equity stake, the reports added, though observers noted similar speculation has arisen before.

Meanwhile, Gatwick’s draft master plan looking at future growth confirmed the airport was looking at bringing its existing standby runway into routine use as one of three options being considered.

Also under consideration, the report said, was using new technology to increase capacity of the main runway, while a third option was to continue to safeguard land for an additional runway sometime in the future.

The airport has now launched a 12-week public consultation to gather feedback and views on the draft master plan. All responses will be reviewed before a final version is agreed early next year.

www.gatwickairport.com/masterplan2018

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