Race hots up for Gatwick

MANCHESTER Airport and its bid partners will have to overcome a clutch of heavyweight opponents, including former BA chief executive Bob Ayling, if it is to win the race for Gatwick Airport.

According to reports Mr Ayling, who is now chairman of Cheshire leisure company Holidaybreak, has joined a Citigroup-led consortium to bid for Gatwick, which is being sold by BAA. The winning bidder is likely to pay as much as £2bn.

Manchester Airports Group, which is owned by the 10 Greater Manchester local authorities, is believed to have teamed up with  Borealis, the Canadian infrastructure fund.

First round bids are expected to be tabled in the new year. Last week BAA’s Spanish owner Ferrovial sent out an information memorandum on Gatwick to the interested parties.

Other contenders include: The Gatwick Future Partnership, which is led by Babcock & Brown’s European infrastructure fund and includes thee former BAA executives; Hochtief, the German construction and infrastructure group. Global Infrastructure Partners, the joint venture between Credit Suisse and GE that owns London City airport, is also likely to join the race.