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The BAA sell off has started

News that George Best Belfast City airport has been sold for around three times the purchase price (bought only 5 years ago) has seen the start of the great BAA sell-off. The company has received an impressive £132.5 million which will see it bank a capital gain in the region of £85 million for just 5 years of ownership.

While the fine print of the proposals to reduce BAA's influence in the UK has still to be finalised it seems that it is literally a free for all for some of the smaller operations. Analysts now expect a steady flow of news from the group with the vultures circling in search of a bargain from a forced seller. But will BAA be able to command a fair price for its assets?

Despite all of the doom and gloom surrounding the UK economy it seems that there is still great interest in the airline industry and especially airports. It is this competition for exposure which is sure to see multiple companies bidding for single airports which should ensure the group receives a fair price for the majority of its assets.

The fun and games will start when the larger London airports come under the hammer although these deals will take a little longer to conclude.

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