BAA sells Interest in Naples Airport

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

Index/Home page
 

OUR READERS' FINEST WORDS (All times and dates are GMT)

All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum