Baa

Gatwick will shortly have a new owner. BAA is selling the airport for much less than it originally hoped in order to reduce the company's debt. But the new owners have already indicated they intend to expand Gatwick as soon as possible, including a new second runway.

Global Infrastructure Partners, which has paid much less than BAA wanted, want to give Gatwick a major make-over, including a second runway. An injunction prevents them from doing this until 2019 at the earliest, but GIP has suggested it will get planning applications sorted so a new runway could be built as soon as possible.

Some promising news from the Tory party conference in Manchester, where they've pledged to dump plans for Heathrow's third runway as part of their election campaign package. "We are absolutely firm on our opposition to expansion at Heathrow, Gatwick and Stansted," shadow transport minister Julian Brazier told the Evening Standard today. "It will definitely be in the manifesto."

It's great to hear their commitment being reaffirmed as it shows how isolated the government is on this issue. But there's a long way to go between promising to include it in the election manifesto, being able to form a government and then actually getting round to reversing the decision. Reports from the conference say that the Heathrow pledge in Theresa Villiers' speech received a polite smattering of applause, but her promise to crackdown on cowboy clampers roused the audience further still. Make of that what you will.