BAA to sell Gatwick Airport

UK airports operator BAA announced plans on Wednesday to sell Gatwick Airport, the second largest airport in the UK. Colin Matthews, BAA's chief executive, said that the company has decided 'to begin the process of selling Gatwick airport immediately.'

Gatwick is the busiest single-runway airport in the world, with 35 million passengers last year. The airport is valued at around £2 bn, according a statement by Ferrovial, the Spanish construction company which owns BAA.

BAA's move is a response to the British Competition Commission, which last month said that BAA had to sell three of its seven British airports.