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Ferrovial 'looking to sell Belfast City Airport'

Grupo Ferrovial SA is in talks with JP Morgan Asset Management to sell George Best Belfast City Airport, the Independent reports.

Ferrovial is the owner of BAA (the British Airports Authority), which operates major UK airports including Heathrow, Gatwick, Stansted, Edinburgh and Glasgow.

The move to offload Belfast's smaller airport is aimed at reducing its debt burden of more than £24 million.

Although Ferrovial and JP Morgan were both mute on the matter, a source close to the talks told the Independent that they were in fact going ahead.

Belfast City Airport has been growing rapidly in recent years and operates flights from the likes of Ryanair, BMI and Flybe. Ferrovial could seek up to £100 million for its sale.

Recent new routes established at the airport include a link from Dundee by Loganair, under a franchise agreement with Flybe.

Other cities from which visitors can fly to the hub include London Heathrow, Birmingham and Manchester.
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02 April 2008

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