Edinburgh picked as it is more attractive
20.10.11
BAA decided to sell Edinburgh rather than Glasgow Airport because Edinburgh will attract more bidders and generate a higher price. BAA chief executive Colin Matthews said: ‘We would prefer to keep both airports, but as we have to sell one the decision was pretty straightforward.’ He said Edinburgh, the larger of the two airports by of passengers and flights, will be easier to sell.
Mr Matthews said Edinburgh should ‘generate a long line of bidders’ as it had proved resilient during the recession. Passenger numbers have grown 6.1% over the last 12 months and 9.5% since the start of the year.
BAA expects to formally put the airport on the market in the New Year with a view to agreeing a sale by next summer. Press reports suggest Edinburgh could be worth £700m - £1bn, compared to £500m for Glasgow.
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