London City Airport to be put up for sale
Airport owned by Global Infrastructure Partners set to sell for up to €2bn
Global Infrastructure Partners bought London City Airport for an estimated £750 million in 2006 from Dermot Desmond. Photograph: Eric Luke
The London airport on the doorstep of the City is to be put up for sale as its US owners look to capitalise on soaring global demand for air travel.
GIP said it was in the process of appointing advisers with the aim of selling the airport this year. People familiar with the business suggest it could fetch as much as £2 billion.
Just seven miles from London’s traditional business district and even closer to the financial centre at Canary Wharf, London City has become one of the favoured ways to travel by City workers. Almost two-thirds of the airport’s passengers are business travellers.