11 OCTOBER 2010
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The BAA, owner of Heathrow airport is to sell its interest in Naples International Airport in Italy for €150 million. At present BAA owns 65% of GESAC SpA, the holding concession for the Italian airport until 2043.
BAA now wants to focus on Heathrow and the other UK airports it owns and acknowledges that Naples has been very important for the company but that is the right time for the airport to move forward under new owners.
Since 2006 BAA has sold Budapest Airport, its Australian airport interests, two tranches of the Airport Property Partnership (APP), World Duty Free, four US retail management contracts and London's Gatwick Airport. www.baa.com
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