London City Airport up for sale for £2bn

London City Airport could be sold for up to £2bn by owners Global Infrastructure Partners (GIP).

The US investment firm, which owns a 75% stake in the airport, is in talks with advisers to take a decision on selling the airport. Oaktree Capital, which owns a 25% stake, is happy to go ahead with the sale.

GIP also owns 42% of Gatwick Airport and Edinburgh Airport.

Michael McGhee, director for transport at GIP, told the Financial Times: “The market demand for quality airports is very high.”

London City Airport is the UK’s 15th busiest airport. It saw 3.6 million passengers make their way through its gates last year.

 

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