New owners at Stansted

Millions of pounds in investment and more choice for passengers were two of the promises made today by the new owners of Stansted airport.

M.A.G, which is owned by local councils in the North West, has spent £1.5 billion to acquire Stansted from the owners of Heathrow.

MAG already run three other airports including Manchester making them the country's biggest UK-owned operator. Some have welcomed the change of ownership but others aren't so happy.

Click below to watch a report by ITV News Anglia's Business Correspondent Matthew Hudson:

Click here to see what travel journalist Simon Calder had to say about the new owners of Stansted airport

Travel journalist Simon Calder says it good news that Stansted airport has a new owner. He said: "At last they are unshackled from Heathrow where they have been something of a poor relation."

Mr Calder says Stansted will now be able to compete more effectively with Heathrow and particularly Gatwick.

Stansted has been bought by M.A.G. which owns Manchester airport.

Stansted Airport has changed hands and the new owners already have problems to deal with. The biggest airline to use the airport, Ryanair, is angry about a 6% increase in airport charges and says it may pull some of its flights out.

Stansted has been bought by M.A.G. which owns or operates Manchester, East Midlands and Bournemouth airports. Stansted's former owner was forced to sell by the Competition Commission.

Click below to watch a report from ITV News Anglia Business Correspondent Matthew Hudson:

Stansted Airport is under new ownership this morning. It has been sold for £1.5 billion pounds by Heathrow Airports Holdings to Manchester Airports Group. Stansted is London's third busiest airport and handles around 17 million passengers a year.

The company formerly known as BAA is to sell Stansted airport to the Manchester Airports group for £1.5 billion.

The deal, announced late this evening, will mean that BAA - now known as Heathrow Airport Holdings - will be responsible for just four UK airports compared with its original seven.

The remaining ones are Heathrow, Southampton, Aberdeen and Glasgow.