2013-01-19 — /travelprnews.com/ — Heathrow Airport Holdings Limited today announces that it has agreed to sell its 100% interest in Stansted Airport Limited to Manchester Airports Group for £1,500 million in cash, payable in full at closing.
Colin Matthews, chief executive of Heathrow, said:
“Stansted Airport and its people have been part of our company for a long time. It has been named by passengers as ‘the world’s best airport for low-cost airlines’ for two consecutive years at the Skytrax World Airport Awards, and we are proud of its achievements. We wish the new owners every success and are confident the airport will continue to flourish. We will continue to focus on improving Heathrow, Glasgow, Aberdeen and Southampton airports”.
The sale is expected to close by the end of February 2013.
Notes to editors
Further info:
– Heathrow Airport Holdings media enquiries – Simon Baugh +44 20 8745 7224 / +44 7970 799114
Notes to editors:
1. Stansted Airport is London’s third busiest airport and the UK’s fourth busiest airport. It is London’s base for low-cost airlines. Approximately 17.5m passengers and 131,400 flights pass through Stansted every year.
2. Stansted has been named by passengers as ‘the world’s best airport for low-cost airlines’ for two consecutive years at the Skytrax World Airport Awards. The poll of 12 million passengers covers 388 airports worldwide.
3. 14 airlines operate from Stansted, serving more than 150 destinations in 32 countries.
4. Stansted handled many of the additional VIP and head of state flights for the London 2012 Olympic Games.
5. The airport is a major cargo centre with over 214,700 tonnes of cargo handled last year.
6. 10,200 people work at Stansted including 1,400 airport employees.
7. Stansted’s EBITDA (earnings before interest, tax, depreciation, amortisation and exceptional items) was £86.6 million in 2011 and is estimated to be £94.2 million in 2012.
8. Stansted’s Regulated Asset Base (RAB) was £1,359.5 million as at 31 December 2011 and is estimated to be £1,342.7 million as at 31 December 2012.
9. The forecast cash balance for Stansted at the expected closing date of end February 2013 is £34.2 million.
10. Following the sale of Stansted, Heathrow Airport Holdings Limited will operate four airports: Heathrow, Southampton, Aberdeen, and Glasgow.
11. Advisors to the seller included Deutsche Bank, ING, Freshfields, Herbert Smith, PwC, Steer Davies Gleave, Environ, Marsh and Strutt & Parker.
Contact information
Heathrow Airport media centre
+44 (0)20 8745 7224
heathrowmediacentre@baa.com