The first post

This is my latest blog, one to get a bit more up to date with the news really. I notice that I don't follow it that closely and I'm just in my little bubble of school. So here I will reflecting on the news and maybe criticizing what happens in the world.
first thing:
Gatwick is getting sold. Finally.
It has taken BAA long enough to realise that it needs to be sold, not just because they have had it for a very long time and are monopolising the London airports. It's also because they legally have to and that, well, they're in a lot of debt. Thus, selling the airport for 1.51BILLION pounds, will help them get out of that debt, well a little bit anyway. They're going to be selling it to a firm called:
Global Infrastructure Partners
which is a joint venture between Credit Suisse, the investment bank, and GE (the world’s largest company). Most of the money will be raised from major banks including HSBC, RBS, Credit Suisse and JP Morgan.

The reason why BAA is in debt, is because Ferovial (who are the owners of BAA) bought it for 10.2 billion pounds in 2006, and they basically borrowed the whole amount. They've had problems repaying it anyway, but have had even more problems refinancing it now the credit crunch has hit. (I'm going take a long shot here and guess that this is because people don't have a lot of money to go anywhere, therefore they stay within the UK.. maybe.)

I think it's a good thing that Gatwick is being sold, previous criticss have also suspected that BAA was diverting funds etc to heathrow, and have thus made Gatwick a bad relation to it. What GIP wants to do is probably build a second runway, and make it more of a holiday airport, offering package holiday to far away destinations and attract more holiday people than business people, thus acquiring more funds. TADAAA someone with sense.

Hopefully that will give BAA a kick up the backsidce as well so that they will continue to improve the other airports and life will be better for me when I fly backwards and forwards between Holland and England.