London ( Longdogfinance) May 28, 2008: The Civil Aviation Authority (CAA) is thinking of trimming the BAA of its duties of owning all the three major airports of London. Till now the regulating authority has been successful in undoing the wrong effects of BAAs sole ownership of all three air ports by fixing a price cap on the charges levied by the group.
"But it is timely to ask the question whether greater competition would better serve consumers," it reported in its answer to an interim report on the BAA. "The Civil Aviation Authority has today agreed that the common ownership of Heathrow, Gatwick and Stansted by BAA is likely to prevent, restrict and/or distort competition," the CAA explained further on the subject.
These steps are on the lines of Competition Commissions findings last month, which found that there was virtually no competition in some of the airports owned by the BAA, which has 7 British airports under its ownership. BAA is owned by the Spanish construction company Ferrovial.
"It is now important to consider the appropriate remedy to the adverse effects of this common ownership, including divestment of airports and consequent reforms to the framework of economic regulation," the aviation watch-dog cautioned.
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