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Three British airports sold off

airportdropoffThree UK airports have changed ownership for £1bn, passing into Spanish and Australian hands.

Aberdeen, Glasgow and Southampton airports were sold by Heathrow Airport Holdings (HAH) to a consortium formed by two companies - Spanish firm Ferrovial and Australia-based Macquarie.

Ferrovial already has 25% ownership of Heathrow, the UK's busiest airport, and holds a 25% stake in HAH, which was previously known as BAA.

HAH had previously operated seven airports until the Competition Commission ordered it to reduce its holdings.

It had already sold off Gatwick for £1.5bn and later sold Edinburgh for £807m. Stansted was sold for £1.5bn to council-controlled Manchester Airport.

Ferrovial chief executive Inigo Meiras said the company is committed to improve these facilities and their services in the hope of increasing further domestic and international destinations.

Glasgow had 7.4 million passengers in 2013, followed by Aberdeen with 3.4 million and Southampton with 1.7 million.

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