The airport operator BAA will be putting Gatwick airport up for sale in November, hoping to get £3bn from the deal. An information memorandum is due to be sent to interested bidders before November 15.

BAA is under pressure from the Competition Commission to sell off Gatwick. A source close to BAA disclosed that this process would take a minimum of one year for completion. HSBC and Royal Bank of England are acting as advisers to BAA on the deal.

BAA is not inclined in lowering the price it is expecting from the deal with belief that a potential investor could strike deal with an aye on the rewards it may gain from Gatwicks acquisition over 20 to 30 years.

The source claimed that owning the UK’s number two airport was a rare thing and BAA would strive to ensure that it got reflected in the price.

The Competition Commission believes that BAA has acquired monopoly in South-East by owning Gatwick, Heathrow and Stansted and three airports in Scotland. It wants to prevent abuse of monopoly by BAA.

Two London airports and one more in Scotland are likely to be recommended for sale by the Competition Commission after completion of investigation into BAA in 2009. BAA, on the basis of preliminary findings, opted for sale of Gatwick.