BAA sells stake in Naples

October 1: UK airport operator is to sell its interest in Naples International Airport in Italy for €150 million. At present BAA owns 65% of GESAC SpA, the holding concession for the airport until 2043.
Colin Matthews, BAA’s Chief Executive Officer, said “Naples has been a significant part of the BAA group for many years. Now is the right time for the airport to move ahead under new owners and for us to sharpen our focus on Heathrow and our other UK airports.”
Since 2006 BAA has sold Budapest Airport, its Australian airport interests, two tranches of the Airport Property Partnership (APP), World Duty Free, four US retail management contracts and London’s Gatwick Airport.