London City Airport put up for sale
London City Airport’s owners Global Infrastructure Fund has put the airport up for sale.
According to a report in the UK Financial Times, the company has appointed an advisor for a potential sale that could be worth up to £2 billion.
Global Infrastructure Fund owns 75 percent of the airport. It purchased its stake in 2006 from Irish business man Dermot Desmond for £750million.
The remaining 25 percent is owned by Oaktree Capital, who are also looking to sell their stake.
Nestled in London’s Docklands business district, London City Airport is a split use airline / business jet airport.
Although the airport’s main users are airlines, a small FBO is available for visiting business aircraft.
Business aircraft using the airport are limited by size, as the airport has a steep approach path and short runway.