Transport Secretary John MacGregor failed to get an airport privatisation bill in the Queen's Speech but is determi...
Transport Secretary John MacGregor failed to get an airport privatisation bill in the Queen's Speech but is determined to press ahead with giving companies the right to buy shares in regional airports, the Times reports (20 November p10).
The paper says that the move paves the way for privatisation of Britain's 26 municipal owned airports. The transport secretary had expected councils to sell their airports as they could spend 100% of capital receipts until the end of the year. If councils fail to sell assets voluntarily in the next 12 months Mr MacGregor will introduce legislation to force councils to privatise airports when they might no longer be able to spend receipts, the paper claims.
It notes that as a result of the squeeze Birmingham has combined with British Airways to build a terminal and East Midlands was sold. Cardiff, Bristol, Belfast and Plymouth are said to be considering selling their airports.