daz...BAA have no say...STN WILL be sold whether they like it or not...the deal will be done long before S12...as for LTN how much more can they grow? They have virtually no stands free overnight so they will have to rely on inbound operators such as Wizz to significantly grow traffic unless someone wakes up at LBC to allow an agreement that is juicy enough to allow a private investor to actually pump money into the airport for investment to allow for profits over a 20-30 year time-span....don't hold your breath...