SIR NORMAN PAYNE

SIR NORMAN PAYNE has died at the age of 88.  He will be best remembered as one of the founders of the British Airports Authority and as Chairman led its London Stock Market listing in July 1987.  The deal with Maggie Thatcher’s government was very clever as it allowed BAA Plc to pay for Stansted’s development whilst raising £1.3bn privatisation revenue to the Exchequer.  BAA was able to dispose of Prestwick and finished up owning the three important Scottish Airports – Aberdeen, Edinburgh and Glasgow.  Sir Norman trained as an engineer and as a partner in the firm of Sir Frederick Snow was much involved with the development of Gatwick in the 1950s.  He retired completely in 1991.

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