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As the UK economy continues to dive bomb towards recession the Bank of England has given its most blatant indication to date that interest rates will fall again in January. The indication was that...
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Tuesday 19th August 2008
While it has yet to be confirmed that BAA will be broken up it has almost been taken as read in the City that this is on the cards. As we reported yesterday the group is under severe pressure from the competition authorities after refusing to loosen its grip on the UK airport sector. This is the main reason why the group’s future is under threat and why the vultures are already circling for what some claim will be the ‘sale of the century’.
BAA is well known for it Heathrow, Gatwick and Stansted airports but this is just the tip of the iceberg with the company having significant interest in an array of other airports around the UK. It is this collective power which is likely to see at least one of the main airports sold off in the short term although it could actually lead to the total break up of the group.
Companies such as Ryanair have been at loggerheads with BAA with regards to their recent landing fee increases and this particular spat has ended up in the courtroom. It has been a very tricky balancing act for the group’s Spanish parent company with significant funds borrowed for the acquisition, significant funds needed for investment and a revamp of the landing fee charging structure central to plans to increase income. |
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