Whatever happened to the old British Airports Authority (BAA)?
The competition regulator ordered that its previous monopolistic position had to end by selling off the bulk of the airports once ownership moved into the private sector. The firm renamed itself Heathrow Airport Holdings (HAH), and in recent years has sold off both Gatwick and Stansted Airports .
It was announced this week that HAH has now agreed to sell Aberdeen, Glasgow and Southampton Airports to a consortium formed by Spanish and Australian firms for around £1 billion.
It is anticipated that the deal will be completed in January 2015 leaving HAH only with the prestigious Heathrow operation.