London City Airport could be up for sale

08:00 02 February 2012

Grounded

Grounded

Archant

London City Airport could be sold next year by its owners Global Infrastructure Partners.

The airport’s new chief executive Declan Collier, who is due to take over in the Spring, has been told to consider options for its sale.

When GIP, in conjunction with AIG, bought the airport in 2006 it paid £742 million. There are suggestions that it would not fetch much more than that in the current economic climate. Industry experts believe, however, that the airport could raise as much as £1.25billion in an upbeat market.

If the new chief executive does back a sale it could still be late next year before it finally goes ahead. Timing is said to be crucial for GIP if it is to realise a profit.

No-one was available at the airport for comment.

Latest London transportation news

Friday, February 5, 2016
Nemash Patel photographed the police cordon

Thousands of commuters were evacuated from one of the city’s biggest train stations today, as a suspected World War Two bomb was found on a building site near Victoria.

Thursday, February 4, 2016
Elton John wow-ing crowds in King's Cross St Pancras international today (Picture: @scvrIett/ Twitter)

Everyone likes a bit of music on the way home, but this afternoon hundreds of lucky Londoners got to hear Sir Elton John play piano live inside Kings Cross St Pancras international station.

Thursday, February 4, 2016
Boris Johnson has today unveiled plans for the two giant traffic-busting tunnels (Picture: PA Images)

Fed up with the traffic en route to work? Boris Johnson may have the answer. The London mayor has just unveiled plans for two huge tunnels which would run under London and make commuting easier.

Wednesday, February 3, 2016
The Night Tube has been plagued with misfortune so far (Picture: PA Images)

London Underground’s largest union has just decided to tell its members to accept the latest deal they are being offered to work on the Night Tube,

which is a giant breakthrough for the much-anticipated service.

Tuesday, February 2, 2016
Will this sight greet you on Monday? (Photo: Anthony Devlin/PA Wire)

You may want to avoid making any weekend plans - because there could be a 48-hour Tube strike taking place.

Monday, February 1, 2016
The scene at Leighton Buzzard this morning (Photo: Network Rail)

A landslip at Leighton Buzzard means that Southern trains cannot run between Watford Junction and Milton Keynes Central this morning, causing cancellations and delays on the West London Line.

What is this?

Near You Now

Don't Miss...

Competitions

Sony Smart Ultra HD 55'' LED TV

Enjoy the ultimate entertainment experience in your living room with the Sony Smart Ultra 55’’ LED TV. Be the envy of all your friends with this huge TV- you can change your living room into your own cinema! Get the boys around to watch the football or get the girls around to watch the DVD of 50 Shades.. this is a prize that everyone would enjoy! Stand a chance to upgrade your current entertainment system by wining this fantastic prize.

Read more
Surface Pro 4

Technology is ever evolving. We are constantly being shown new technology that is innovative, revolutionary and designed to make life easier for us all. Gone are the days of dial up modems and computers so large you needed half a room to store it. We are in the age of smooth, small and sleek. Companies are all trying their best to create technology that is easy to transport and guaranteed to be user friendly.

Read more

Latest Tech News

Transport