10 Jan 2014
The CAA has today announced its decision to remove Stansted Airport from economic regulation from April 2014 onwards. Following a two-year review, the CAA has concluded that Stansted does not have substantial market power and the airport should be free to compete with other airports without the need for price regulation.
Responding to the CAA’s announcement, M.A.G Chief Executive Charlie Cornish commented:
“Since MAG acquired Stansted in February last year we’ve focused on building strong commercial relationships with airlines and delivering a better experience for passengers.
“After just ten months, our approach to running Stansted is already yielding big benefits for passengers and airlines. The long term growth deals we've agreed with airlines - including Ryanair, easyJet and Thomas Cook - will see Stansted continue to grow rapidly over the next decade, offering passengers more choice in terms of destinations and frequencies.
“The CAA's decision today to step back from regulating Stansted is a welcome endorsement of the changes we’ve made, and a positive recognition by the CAA that in Stansted’s case competition rather than regulation will deliver the best outcomes for passengers and airlines.
“Stansted is flourishing in a competitive environment, as we build long-lasting commercial partnerships with airlines and deliver excellent service to our customers.”