November 2022, Virtual
21 November 2022, Hilton London Metropole
London City airport has been put up for sale by US investment firm Global Infrastructure Partners (GIP) and could fetch £2 billion.
The airport popular with business travellers for its location close to Canary Wharf is appointing advisers to help with the sale, according to The Financial Times.
GIP, which also has stakes in Gatwick and Edinburgh airports, is reportedly looking to sell by the end of this year.
London City airport has seen traffic numbers soar over the past year. In February it saw a 33 per cent increase in passenger numbers compared to the same period the year previous.
However, in March London mayor Boris Johnson refused planning permission for expansion at London City due to concerns over the increase in noise for local residents.
GIP bought London City Airport in 2006 for around £750m from Irish businessman Dermot Desmond.
Sign up to BBT’s twice-weekly newsletter