The deal means that the operator, formerly called BAA, will be responsible for just four British airports compared with its original seven.

London Stansted is Britain's fourth-busiest airport after London Heathrow, London Gatwick and Manchester.

"Stansted Airport and its people have been part of our company for a long time," said Heathrow chief executive Colin Matthews.

"It has been named by passengers as 'the world's best airport for low-cost airlines' for two consecutive years at the Skytrax World Airport Awards, and we are proud of its achievements.