Wed, Jun 07, 2006
Ferrovial? Si!
Remember two months
ago, when lawmakers in the US fell into an uproar over a proposed
deal to transfer control of several US ports to a company based in
Dubai? Well, Britain is now going through something similar, as BAA
-- the world's biggest airports operator -- was on the precipice
Tuesday of falling into the hands of Spanish construction group
Ferrovial.
BAA owns seven airports in Britain -- including London's
Heathrow, Gatwick and Stansted (above right) -- and it has given
its blessing to the takeover bid, in which Ferrovial will spend
almost $20 billion to take over several of Britain's largest
airports.
That's not nearly the scandal the bungled Dubai ports deal
was... but the move has raised hackles among British investors, who
are wondering why the group's directors rejected a higher offer
from US-based Goldman-Sachs to take over BAA.
According to the Financial Times, the American investment bank
was "finally outmaneuvered" by the "pace and decisiveness" of the
Spanish bidding team.
Investors are also fretting over a possible investigation by
Britain's Office of Fair Trading that could potentially lead to the
break-up of BAA's London airport monopoly... which could make BAA
much less appealing to ANY investors, period.
Ferrovial said Tuesday, however, that its Airport Development
and Investment (ADI) group planned to maintain BAA's portfolio of
British airports, no matter what.
"ADI's aim is to maximize BAA's operational and financial
efficiency, whilst also focusing on security, safety, good airline
and passenger service and environmental issues," the company said
in a prepared statement.
More News
Back-Taxi A term used by air traffic controllers to taxi an aircraft on the runway opposite to the traffic flow. The aircraft may be instructed to back-taxi to the beginning of the>[...]
“Our WAI members across the nation are grateful for the service and sacrifice of the formidable group of WASP who served so honorably during World War II. This group of brave>[...]
“Many aspiring pilots fall short of their goal due to the cost of flight training, so EAA working with the Ray Foundation helps relieve some of the financial pressure and mak>[...]
Blind Speed The rate of departure or closing of a target relative to the radar antenna at which cancellation of the primary radar target by moving target indicator (MTI) circuits i>[...]
Aero Linx: International Airline Medical Association (IAMA) The International Airline Medical Association, formerly known as the Airline Medical Directors Association (AMDA) was fo>[...]
ANN's Daily Aero-Term (05.19.24): Back-Taxi
See All