Gatwick owner launches bid for Edinburgh airport

The owner of Gatwick and London City airport has emerged as a leading contender to buy Edinburgh airport. Global Infrastructure Partners, a US-based investment firm, is one of four first-round bidders for Scotland's largest airport, which has been put up for sale by Heathrow owner BAA. It is understood that the other bidders are: a consortium led by private equity group 3i; another private equity firm, Carlyle; and JP Morgan Asset Management. Edinburgh airport is to be sold following a Competition Commission investigation. It is expected to fetch about £700m. Last year, Edinburgh handled 9.4 million passengers, which was up 9% on 2010.