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Friday, July 20, 2007

BBA Aviation Sells Oxford Airport

The sale of Oxford Aviation Services, trading as Oxford Airport, to OA acquisitions Limited for a debt-free, cash-free consideration of £40 million, was completed. The sale will produce a profit on disposal of nearly £24 million that is expected to be tax free. BBA owned Oxford airport, a small regional airport, since March 2000. By year-end 2006, the airport had a turnover of £4.5 million, operating profit of £.3 million and gross assets of £11 million.
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