Investment group prepares Gatwick bid

A private equity group has partnered one of the world's biggest pension schemes to table a £1.5 billion bid for London Gatwick Airport.

3i infrastructure is working with the Ontario Teachers' Pension Fund on a potential offer for the BAA owned airport, which will begin the process of selling this week when it issues information to potential bidders and announces a timetable for the sale.

This bid will join others made by the Vancouver Airports Authority, the Virgin group and the Manchester Airport Group, who will all be expected to make bids by late March 2009.

BAA is selling the country's leading charter airport in anticipation of a Competition Commission report due in March; however, carriers expect charges to rise no matter who owns the airport.

Gatwick operates services to more than 200 destinations worldwide and handled more than 35 million passengers for the first time in 2007.

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