Gatwick shareholder considers sale of 42% stake worth £10 billion

Citing City sources, it is reported Global Infrastructure Partners (GIP) is “debating the future” of its holding, potentially worth £10 billion.

Gatwick is the UK’s second biggest airport after Heathrow, and among the top 10 largest in Europe.

A consortium, led by GIP, acquired Gatwick in 2009 from BAA, its 42% stake reportedly secured for £1.5 billion.

Should GIP decide not to sell its shareholding, it could instead extent the life of the fund in which it holds its stake in the airport and profit from improved performance at the Sussex hub.

Alternatively, it could also sell it to existing shareholders.

GIP is yet to comment on the reports.

It comes after IAG last week bought a 4.61% stake in Norwegian, which has a substantial presence at Gatwick.

Was IAG to complete a full takeover of Norwegian, it would boost its weekly seats at Gatwick by 120,000 and become IAG’s fourth biggest hub.

However, it has been since reported IAG may be willing to sell off some of Norwegian’s slots at Gatwick to gain regulatory approval.

Norwegian chief executive Bjorn Kos, who has a 27% stake in the airline, on Friday told reporters in Oslo the carrier was not for sale.