"Construction could have been a lot worse. Overall results were a bit better than expected at the operating level, largely thanks to a surprisingly good performance from airports," an analyst in Spain said. BAA and Cintra posted nine-month results broadly in line with forecasts on Wednesday and flagged steadying traffic at airports and highways. Join discussion...

The long-awaited break-up of the UK’s biggest airport group began on Wednesday after BAA reached an agreement to sell Gatwick to the owners of London City Airport for £1.5bn. The sale to Global Infrastructure Partners, which was approved late on Tuesday night by the Competition Commission, ends a tortuous process that started a year ago when BAA, a subsidiary of Spain’s Ferrovial infrastructure group, put Gatwick up for sale in an attempt to head off competition concerns about its market dominance. Join discussion...

Global Infrastructure Partners, the owner of London City airport, made a 1.3 billion-pound ($2 billion) to 1.4 billion-pound bid for Gatwick airport that was rejected by BAA Ltd., said two people familiar with the matter. The fully financed offer was turned down May 17 on the grounds that it was too low, said the people, who declined to be identified because the details aren’t public. BAA, which also operates London’s Heathrow and Stansted airports, was seeking at least 1.5 billion pounds, one of the people said. Join discussion...

Citi Infrastructure Investors was eliminated from the auction for BAA Ltd.’s London Gatwick airport, a decision it called “bizarre in the extreme.”Citigroup’s team, which includes Vancouver Airport Services and John Hancock Life Insurance Co., made an uncompetitive offer with no assurances on deliverability, BAA said in a statement today. The bid group, known as Lysander, said separately that it’s still interested in buying Gatwick and has full funding for a purchase that would improve the site’s passenger facilities. Join discussion...

The British airport operator vying with Citigroup- and GE-linked funds to buy London's Gatwick airport has drafted in one of Britain's biggest retirement schemes to strengthen its bid. Join discussion...

Three bidders — including Manchester Airports Group and its partner Canadian pension fund Borealis — remain in the race for the airport. Global Infrastructure Partners, backed by Credit Suisse and General Electric and Lysander Gatwick Investment, a consortium consisting of Citi Infrastructure Investors, Canada’s Vancouver Airport Services and John Hancock Life Insurance of the US, are still believed to be in the race. Join discussion...

With increasing construction costs aiport refurbishments are not affordable for governments. This is the reason why administrations decide to finance these improvements through concession contracts. Join discussion...

Groups led by 3i Infrastructure Plc and a Deutsche Bank AG fund have withdrawn from the auction, three people familiar with the situation said. German builder Hochtief AG was taken off a shortlist last month and executives from Citi Infrastructure Investors and Global Infrastructure Partners say they’ll bid but that a lack of funds is hampering progress. Join discussion...

Essen-based Hochtief submitted an initial offer that was too low, one of the people said, declining to be identified as the details of the sale are private. The decision would leave five remaining bidders: infrastructure funds started by Citigroup Inc., Deutsche Bank AG and 3i Group Plc, along with a group led by Toronto-based Borealis Infrastructure and Global Infrastructure Partners, the owner of London’s City Airport. Join discussion...

Deutsche Bank's (DBKGn.DE) RREEF Infrastructure and a European infrastructure fund run by Babcock & Brown (BNB.AX) have made a joint first-round bid for London's Gatwick airport, a spokesman confirmed on Tuesday. Join discussion...