Two of Britain's biggest airlines, EasyJet and Virgin, could head up a consortium to take over London Gatwick Airport. EasyJet and Virgin Atlantic are thought to be considering making a £1.5 billion offer for the airport, which is currently owned by BAA.

Other airlines likely to be invited to join the consortium include Monarch and ThomsonFly. Gatwick is up for sale after a Competition Commission probe called for the break up of BAA's monopoly ownership of London’s three biggest airports. BAA also owns Heathrow and Stansted, although it is thought the airport operator is most likely to offload Gatwick.