London City Airport for sale

Oaktree Capital, which owns a 25% stake, is happy to go ahead with the sale.

McGhee told the Wall Street Journal: “At the moment, the demand for quality infrastructure assets is high, so we believe it is a good time to sell this particular asset”.

GIP bought the airport for an estimated £750m in 2006 from Irish financier Dermot Desmond.

The Financial Times has suggested the airport could fetch as much as £2billion, with many foreign investors keen to buy into London’s Docklands.

London’s City worldwide airport is supposedly offered by the American hold within the package that may be definitely worth £2bn.

A British Airways jet lands at London City airport. It is just 22 minutes from Bank station and is closer to the financial centre at Canary Wharf.

The airport handles planes that are flying to European destinations such as Amsterdam, Dublin, Madrid and Florence.

The airport is now seeking to secure planning permission to add seven new aircraft stands in a proposed £200 million expansion it says would boost passenger numbers to six million by 2023.

The plans were approved by Newham council in February but blocked by London’s mayor, Boris Johnson, the following month due to noise concerns.

The airport appealed against the mayor’s veto in July and a decision is expected towards the end of next year.

Meanwhile, the debate over expansion plans at Gatwick or London Heathrow airport rages on, Last week, IAG boss Willie Walsh attacked plans for a third runway at Heathrow, saying its costs would be “outrageous”.

In 2009, the airport was granted permission to increase its flight movements from 70,000 a year to 120,000 a year.