Britain’s antitrust regulator said that BAA Ltd., the owner of London’s Heathrow airport, is providing poor service and should sell its two other London airports, Gatwick and Stansted, and Scotland’s Glasgow airport. BAA, owned by Spain’s Grupo Ferrovial, has a near-monopoly on air travel in southeast England, and the U.K. Competition Commission and some British politicians say that has contributed to widespread, ire-inducing flight delays. “This is a ruthless assessment that many will welcome,” said Howard Wheeldon at BGC Partners in London. (Bloomberg)
The bottom line
August 20, 2008
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