Our history

We’re proud of our long and successful history: where we started, how we’ve developed and kept up with the ever-evolving market. Here we look at some of our key milestones starting with our most recent, back to the 90s, 80s, 70s and swinging sixties. 

June 2007: Glasgow Airport is attacked by terrorists.

May 2007: BAA sells Budapest Airport. Our London airports launch noise websites with plane tracking capabilities.

February 2007: We respond to the CAA's initial price proposal and to the airport competition probe. We announce the transformation of Terminal 3.

December 2006: BAA responds to the Office of Fair Trading’s (OFT) market study on the UK Airports industry.

Summer 2006:  In June, Ferrovial officially takes control of BAA after gaining 83% of its shares. In July, Stephen Nelson succeeds Mike Clasper CBE as our CEO and in August we de-list from the Stock Exchange.

February 2006: We are contacted by Grupo Ferrovial – a leading partner in a consortium – who declare an interest in acquiring BAA.

2005: We announce the creation of a 50:50 property joint venture with Morely Fund Management (Morely). And we acquire Budapest Airport.

2004: The UK government publishes an Aviation White Paper in which it proposes a new runway at Stansted airport. We are also awarded a ten-year retail management contract at Baltimore/Washington International Airport.

2003: We sell a substantial part of our interests in McArthurGlen designer outlet centres. And we invest in the NATS group, the UK’s national air traffic services provider.

2002: We’re awarded a ten-year contract extension for the AIRMALL at Pittsburgh Airport.

2001: We acquire TBI’s investment in Australian airports: Perth, Darwin, Alice Springs and Tennant Creek.

2000: We set up £200 million Airport Hotels Partnership. We win a ten-year contract at Boston Logan International Airport. And, following a competition review, the Government announces that we can retain ownership of our London airports. Back to top

1998: The £450 million Heathrow Express rail link is opened at London Paddington. We win a long-term lease for Launceston Airport, again as part of the APAC consortium. And we acquire property development company, Lynton plc.

1997: We win a ten-year contract to manage Harrisburg Airport, USA. And we go down-under, winning a long-term lease for Melbourne Airport as part of the consortium, Australia Pacific Airports Corporation.

1994: Capitalisation issue: shareholders receive one new share for each share held at 22 July 1994. This did not affect the base cost of shareholders' total holding for capital gains tax purposes.

We win a ten-year contract to manage Indianapolis Airport, USA – our first airport outside the UK.

1992: We sell Prestwick Airport and win a 15-year retail and catering contract for Pitsburgh Airport USA.

1990: Bonus shares: Qualifying shareholders who applied for bonus shares at the time of the Offer for Sale, received one free share for every ten shares bought from the Government. The value of these shares for capital gains tax purposes was £4.55 per share.

We acquire Southampton Airport. Back to top

1987: BAA was floated on the Stock Market with a capitalisation of £1,225 million, reflecting the profitability record of the organisation and our high standing in the aviation world. The original price per share was £2.45. The offer price was adjusted for capitalisation issue (see 1994) £1.225p

1986: The Airports Act was passed, the Authority was dissolved and all its property, rights and liabilities were passed to a new company, BAA. Back to top

1971 – 75: The British Airports Authority acquires Edinburgh, Aberdeen and Glasgow airports.

1966: The British Airports Authority assumes ownership and responsibility for Heathrow, Gatwick, Stansted and Prestwick airports.

1965: Labour minister, Roy Jenkins, introduced the Airports Authority Bill. It was intended to make the nation’s airports more flexible and able to generate profits – while remaining responsible to Parliament. The British Airports Authority was established.

1960s: In the early 60s the Ministry of Defence controlled all commercial aviation. But as technology advances and air travel became more popular, running airports became too complex and time-consuming for central government. Back to top

You can also find out about our airports’ history by using these links:
Heathrow, Gatwick, Stansted, Edinburgh, Glasgow, Aberdeen
and Southampton.