Announcement of the Sale of Aberdeen
Heathrow Airport Holdings has now announced the sale of Aberdeen and has also agreed to stake its 100% interest in the Aberdeen International Airport Limited. This has been announced at a consortium that has been formed by Ferrovial and Macquarie for around 1,048 million pounds in cash. These are all payable during closing when the consideration for sale would be increase such that it would compensate Heathrow for all the delays in time today as well as during the closing date. This sale is as per the EU merger rule associated with the clearance. Aberdeen Airport incidentally is the main gateway to the energy capital in Europe. These airports transport at least 500,000 passengers related to the North Sea Oil and gas industry. There are at least 3.4 million passengers who are catered by around 118,000 flights which cross over the Aberdeen each year. There are at least 21 airlines which operate from Aberdeen and serve around 48 destinations. Around 2,500 people are employed at the airport at Aberdeen which includes around 259 employees.
Proximity Helps Heathrow Holdings
Glasgow Airport is a main long haul airport which is also popular as the largest charter centre in Scotland. Around 7.4 million passengers are catered by around 80,000 flights which also cross through Glasgow each year. More than 30 airlines fly from Glasgow which caters to around 100 destinations. Approximately 4500 people are employed at the airport at Glasgow which Then you have Southampton Airport which is the hub in the central part of Southern England which has had certified performances of services to customer. Around 1.7 million passengers and more than 40,000 flights cross the region of Southampton each year. Around 15 airlines fly from Southampton which is employed for around 40 destinations where at least 1,200 people work in the airport at Southampton. This includes around 185 people who are employed here. These people cater to the needs of the people in transit here and also aid in making the functioning and structure of the airport stable and steady.
How does Heathrow Airport Holdings Work
Heathrow Airport Holdings Limited was earlier called BAA and is the main operator in the United Kingdom. This is the most important of the four airports in British regions. This is in fact one of the largest companies related to transport in the entire world. Formed due to the privatization of the British Airports Authority which is also called as BAA plc, it was a major constituent of the FTSE 100 index. It was bought in the year 2006. A Spanish firm Ferrovial led the consortium and privatized the company. It specialized mainly in the construction, design and finance as well as maintenance and operation of the transport, and the services of the urban infrastructure. With the head office situated in The Compass Centre in the London Heathrow Airport grounds in the London Borough of Hillingdon the company earns from the landing fees that is charged to the airlines. It also earns from the ancillary operations which operate within the airports like property and retail. The airport mainly has its passenger structure as the key to income. Add to this the regular discount; hotels in Heathrow are another attraction.
The Shift from BAA to Heathrow Airport Holdings
The company operates and holds four airports inside the United Kingdom. Even when it was named the BAA it was not operational in many UK airports as the local authorities or corporations own it. Then the company got renamed as Heathrow Airport Holdings in the year 2012 and showed Heathrow Airport as the main business. Heathrow Airport Holdings then announced the sale of Southampton, Glasgow and Aberdeen Airports which was subject to the EU merger regulation clearance. This is how Ferrovial and Macquarie owned it wherein the company would receive additional payment in case there is any delay in approving the deal. This deal is expected to close sometime in the month of January in 2015. After this Heathrow Airport Holdings would be operating only Heathrow. There are also many Discount Hotels in Heathrow.
Heathrow’s Three Airports
Now that the airports have been acquired by Ferrovial and Macquarie consortium, there is an influx of passengers that has been noticed passing through them. The main airport in Scotland is Glasgow which sees around 7.4 million passengers, Aberdeen has 3.4 million passengers. This also includes the 500,000 which are connected to the oil and gas industries in North Sea. The smallest one Southampton has around 1.7 million passengers. As the Chief Executive of Heathrow in fact remarked the three airports have been a part of each other for long. They are well functioning airports and the team is proud of the achievements. John Holland-Kaye in fact wished the new owners as well as the colleagues success and expressed his confidence that the airports would continue to flourish in this manner. This sale helps us to focus on not only improving the airport at Heathrow for passengers but also aims at winning the goodwill and co-operation for expansion of the airport.
The Much Talked About Sale
This sale by Heathrow Airport Holdings has been a much awaited one and was announced as early as October 16, and was subject to many merger regulations in European standards. Ferrovial Aeropuerto SAU the buyer is a subsidiary and has teamed with Macquarie’s infrastructure Fund 4 to buy the airports. Every firm has around 50% stake in the entire deal. Ferrovial in fact owns around 25% controlling share of Heathrow Holdings through FGP Topco Ltd another subsidiary. Glasgow Airport is in fact the fulcrum of the biggest Scottish city and also is a main base for many low fare airlines. This is also a transatlantic gateway into Scotland with most of the flights coming from Virgin Atlantic, US Airways and United Airlines. It is an important hub for charter traffic.