Ferrovial consortium back BAA's Stansted runway expansion

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Source:turkishpress.com

Ferrovial consortium back BAA's Stansted runway expansion
07-06-2006, 14h40
LONDON (AFP)

The new owners of BAA have said that the British airports operator would continue with plans to develop a second runway at Stansted Airport, north east of London.

A consortium led by Spanish construction group Ferrovial, which now runs BAA, added in an official statement Thursday that it would review the costs involved as well as plans already put forward.

"We have made today's statement so that all stakeholders in BAA's UK airports are very clear that we are committed to... developing Stansted's second runway as soon as possible," said Juan Bejar, chief executive officer of Ferrovial Infraestructuras.

On June 6, the board of BAA accepted the consortium's takeover bid worth 10.23 billion pounds (14.8 billion dollars, 19.2 billion dollars).

BAA owns seven British airports, including London's Heathrow, Gatwick and Stansted. Ferrovial, which represents 65 percent of the consortium, manages Belfast airport and Bristol and Exeter airports in western England.

The other members of the consortium are Canada's top institutional fund manager, Caisse de depot et placement du Quebec, and Singapore's GIC Special Investments.


AFP