UK Airport News
![UK Airport News](https://www.airport-suppliers.com/wp-content/uploads/2016/01/legacy/news/untitled_99.jpg)
Manchester Airports Group has pulled out of the bidding for London's Gatwick airport, because it would not raise its bid to the 1.5 billion pounds sought by Gatwick owner Ferrovial, a person familiar with the matter said.
MAG had sweetened its offer for the airport, operated by BAA, by including mechanisms such as earn-out agreements, but the cash value of its proposal was about 1.38 billion pounds ($2.26 billion), the person said on Thursday.
"We pulled out of the process. The only thing that will make us come back is if BAA has a radical rethink on what Gatwick is worth and there's no sign of that," the person said.
BAA, which is majority owned by Spain's Ferrovial, was not immediately available for comment.