The owners of Heathrow have confirmed they have sold Aberdeen, Glasgow and Southampton airports in a £1 billion deal.

Two companies - Spanish firm Ferrovial and Australia-based Macquarie - head a consortium that will now operate the transport centres. The sale is expected to be completed by January 2015.

Heathrow Airport Holdings will now manage just one airport. "This sale enables us to focus on improving Heathrow for passengers and winning support for Heathrow expansion," said chief executive John Holland-Kaye.

The Airports Commission is currently considering whether to increase capacity at Heathrow or Gatwick. It is due to produce a final report on the matter in summer 2015, having already ruled out the construction of a new aviation hub in the Thames Estuary.

Heathrow is 25 per cent owned by Ferrovial, with investment vehicles from Qatar, Quebec, Singapore, the US, and China also holding stakes.