New owners jet in for Southampton Airport
Southampton Airport is to be sold by Heathrow Airport Holdings as part of a £1.05bn deal.
Heathrow announced it has agreed to sell its 100 per cent interest in Southampton International Airport, Aberdeen International Airport and Glasgow Airport to a consortium formed by Ferrovial and Macquarie for £1.048bn in cash and assumed debt, payable in full upon completion.
The sale is subject to EU merger regulation clearance.
Heathrow chief executive John Holland-Kaye said: "Aberdeen, Glasgow and Southampton airports and their people have been part of our company for a long time. They are great airports and we are proud of their achievements. We wish the new owners and our airport colleagues every success and are confident the airports will continue to flourish.
"This sale enables us to focus on improving Heathrow for passengers and winning support for Heathrow expansion. Heathrow is the UK's only hub airport, connecting the whole of the UK to the world and bringing economic benefits locally and nationally."
The sale is expected to complete no later than January 2015.