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Edinburgh owner to sell Docklands facility

London City Airport for sale with £2 billion price tag

London City AirportLondon City Airport is up for sale with a price tag of £2 billion, according to a report today.

Global Infrastructure Partners (GIP) – which has a 75% holding in the airport – is also the biggest shareholder in Edinburgh and Gatwick airports but these are not for sale.

The Financial Times reports that GIP and the other shareholder in London City – Oaktree Capital – have appointed advisers to find a buyer.

Director of transport Michael McGhee tells the paper: “The market demand for quality airports is very high.”

London City is a popular choice among business travellers from and to Scotland because of its proximity to the financial centre and Canary Wharf.

The airport serves 45 destinations in the UK, Europe and the US. Since its initial investment in London City in 2006, GIP has invested in increasing capacity and improving its operating efficiency and service quality. In 2013, London City served a record 3.4 million passengers.

GIP led a consortium that acquired Edinburgh in 2012. It is the 6th largest airport in the UK with 9.8 million passengers in 2013 and has a 45% share of the Scottish airport market.

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