Highstar considers selling City Airport stake

The holder of a minority quarter shareholding in London City Airport is reportedly considering offloading its stake worth up to £200 million.

New York-based infrastructure fund manager Highstar bought the 25% stake in the Docklands airport from majority shareholder Global Infrastructure Partners two years ago.

The two companies declined to comment on reports which quoted sources suggesting that Highstar has approached infrastructure and pension funds as it seeks to dispose of its shareholding.

GIP, which has 75% of London City and is a majority shareholder of Gatwick, plans to expand the capital’s centrally located airport by raising the number of flights from 80,000 to 120,000 a year.

The approval decision is subject to a judicial review which is due to take place next month.