Thu, 06 Aug 2015 | BUSINESS SALE
London City Airport is to be put up for sale by its US owners with the price rumoured to be around £2 billion.
US fund Global Infrastructure Partners (GIP) currently own the business, along with stakes in London Gatwick and Edinburgh airports but they have decided to sell City in a bid to capitalise on particularly high demand for air travel.
A sale of £2 billion would be a healthy profit for the fund, which bought the airport for £750 million in 2006.
Michael McGhee, director for transport at GIP, told the Financial Times that he believes the time is right for a sale: “The market demand for quality airports is very high.”
He did however insist that there are no plans in place within the group for the sale of its other holdings in Gatwick or Edinburgh.
London City Airport is located just seven miles from the capital's traditional business district and is even closer to Canary Wharf, making it a favoured airport for business travel. In fact two-thirds of the airport's passengers are business travellers.
It has seen passenger numbers double over the past decade from 2 million in 2005 to over 4 million this year.
View other businesses for sale here.
A very reputable, award winning, day spa offering a selection of rejuvenating treatments is available in the bustling city of Manchester. Offers invited.
This is a longstanding automotive repair business in Gloucestershire, now available for an interested buyer to purchase. Offers invited.
A remarkable opportunity has emerged to acquire an established precision engineering business which has cemented solid foundations since it began trading in 1998. Offers invited.
Early stage advanced data analysis company Rinocloud has bee...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources