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.