London City Airport bought for £2bn by Canadian-led group

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London City Airport has been bought by a consortium led by a major Canadian pension fund.

The price paid has not been disclosed, but the airport's value has been put at about £2bn.

City Airport, which is near Canary Wharf in London's Docklands, is popular with bankers and City professionals because of its proximity and its small size.

Last year, a record 4.3 million passengers used the airport.

The deal involves Alberta Investment Management Corporation, and investment funds the Ontario Teachers' Pension Plan and Wren House, part of the Kuwait Investment Authority.

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