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BAA says it’s business as usual

AIRPORT
owner BAA said its London airports will not be broken up following the loss if
its Government ‘golden share’ which protects the company from takeover.

The
share, which states no single shareholder can own more than 15% of the company
and that BAA cannot sell Heathrow, Gatwick or Stansted without Government
permission, was deemed illegal by European courts in May and now the Government
has decided not to appeal against the decision.

The
removal of the share could possibly lead to a takeover attempt or BAA selling
off its airports.

However,
a spokeswoman said: “This decision won’t have any impact on the way we run
our business. Our largest shareholder only owns 5% of the business and we are
hardly going to be selling any of our London airports.”

Leading
aviation figures, including Sir Richard Branson and Ryanair boss Michael
O’Leary, have called for the break-up of BAA’s London airports in the past.

 

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