Manchester Airport Group bought Stansted Airport in an auction and closed the deal for nearly $240 million, according to a recent British Airports Authority press release.
Heathrow Airport Holdings Limited agreed to trade the Stansted Airport to Manchester Airport Group, which is expected to close by February. The Stansted Airport is London's third and U.K's fourth busiest airport with its low fare airlines, will be under the ownership of Manchester Airport Group. With the purchase of Stansted Airport, Manchester Airport Group will move forward in the race to be one of the largest regional airport operators in the U.K.
"Stansted Airport and its people have been part of our company for a long time," said Colin Matthews, chief executive of Heathrow, according to BAA press release. "It has been named by passengers as 'the world's best airport for low-cost airlines' for two consecutive years at the Skytrax World Airport Awards, and we are proud of its achievements. We wish the new owners every success and are confident the airport will continue to flourish. We will continue to focus on improving Heathrow, Glasgow, Aberdeen and Southampton airports."
"We are delighted to be successful in our bid for Stansted Airport, the London airport for Europe," Charlie Cornish, chief executive of Manchester Airport Group, said. "The transaction represents a significant milestone in the achievement of our previously stated strategy of adding a quality airport to the group and delivering long-term value to our shareholders."
