Post by Humberside on Aug 18, 2008 14:04:50 GMT
MANCHESTER Airports Group is mulling a swoop north of the border as rival operator BAA faces being broken up by competition bosses, the M.E.N. understands.
MAG chiefs have Glasgow Airport in their sights as their attention switches from Gatwick, which has previously been touted as a possible target.
MAG chiefs have expressed interest in Gatwick to BAA chairman Sir Nigel Rudd although sources say their appetite is waning. They would have to bid for the London gateway in partnership with private equity or other investors, but may now prefer to buy Glasgow independently.
A series of international firms are eyeing Gatwick Airport, including Germany's Hochtief and Australia's Macquarie.
Other bidders are expected to emerge in the coming months in what could be a multi-billion pound tussle for Gatwick.
Sir Nigel revealed at the weekend that he expected the Competition Commission to recommend the sale of Gatwick or Stansted, or both, plus one of its Scottish airports.
BAA, which is owned by Spanish property group Ferrovial, is likely to want to hold on to Edinburgh but could sell Glasgow. It also owns Aberdeen, Heathrow, Stansted and Southampton.
BAA has been widely criticised for poor passenger facilities and excessive airline charges, culminating in the fiasco of the opening of Heathrow's Terminal Five earlier this year.
The CC launched a probe into BAA in March last year, and said BAA's common ownership of seven UK airports "may not be serving well the interests of either airlines or passengers".
Sources at Manchester Airport say Glasgow represents an attractive option as they look to expand MAG. The group includes Nottingham East Midlands, Bournemouth and Humberside, although the latter is expected to be sold soon.
"The hot money is on a bid for Glasgow," said one source.
"The group is interested in acquiring any airport that adds value for shareholders, but there could be too many challenges with Gatwick."
MAG is owned by the 10 local authorities of Greater Manchester.
MAG chiefs have Glasgow Airport in their sights as their attention switches from Gatwick, which has previously been touted as a possible target.
MAG chiefs have expressed interest in Gatwick to BAA chairman Sir Nigel Rudd although sources say their appetite is waning. They would have to bid for the London gateway in partnership with private equity or other investors, but may now prefer to buy Glasgow independently.
A series of international firms are eyeing Gatwick Airport, including Germany's Hochtief and Australia's Macquarie.
Other bidders are expected to emerge in the coming months in what could be a multi-billion pound tussle for Gatwick.
Sir Nigel revealed at the weekend that he expected the Competition Commission to recommend the sale of Gatwick or Stansted, or both, plus one of its Scottish airports.
BAA, which is owned by Spanish property group Ferrovial, is likely to want to hold on to Edinburgh but could sell Glasgow. It also owns Aberdeen, Heathrow, Stansted and Southampton.
BAA has been widely criticised for poor passenger facilities and excessive airline charges, culminating in the fiasco of the opening of Heathrow's Terminal Five earlier this year.
The CC launched a probe into BAA in March last year, and said BAA's common ownership of seven UK airports "may not be serving well the interests of either airlines or passengers".
Sources at Manchester Airport say Glasgow represents an attractive option as they look to expand MAG. The group includes Nottingham East Midlands, Bournemouth and Humberside, although the latter is expected to be sold soon.
"The hot money is on a bid for Glasgow," said one source.
"The group is interested in acquiring any airport that adds value for shareholders, but there could be too many challenges with Gatwick."
MAG is owned by the 10 local authorities of Greater Manchester.
www.manchestereveningnews.co.uk/news/business/s/1063039_airport_chiefs_eye_glasgow_