Airport operators, BAA, which is part of the Spanish Ferrovial group, has responded to a recent recommendation by the Competition Commission that it should sell off three of its seven UK airports, by putting Gatwick up for sale.

BAA chief executive, Colin Mathews, said that, "The decision to sell was not taken lightly. We believe that the airport's customers, staff and business will benefit from the earliest possible resolution of current uncertainty."

Gatwick is valued at around £1.8 billion (€2.26 billion euros).

Since the news broke, the value of Ferrovial shares has risen by 5.6% on the Spanish stock market.