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Gatwick Airport has been sold to France's Vinci for £2.9 billion, just days after reports of drone sightings closed its runway and caused chaos for thousands of passengers.

Under the terms of the deal, a consortium led by US investment fund Global Infrastructure Partners (GIP) will sell a 50.01% stake to Vinci Airports.

The UK’s second biggest airport struck the deal with Vinci, who operates over 40 airports globally across Europe, Asia and the Americas.

It comes after the Sussex airport was heavily disrupted in the run-up to Christmas, after reports of drone sightings caused havoc for Christmas travellers.

Around 1,000 Gatwick flights were cancelled or diverted across three days last week after drones were spotted inside the airport perimeter.

The crisis ruined the pre-Christmas travel plans of tens of thousands of people.

However, there were subsequent suggestions that there may never have been any drones at Gatwick, although police later played them down, saying they were down to "poor communications".

Michael McGhee, GIP partner, said: "We expect the transaction to be completed by the middle of next year, with the senior leadership team remaining in place.

"Their focus, along with everyone at Gatwick, obviously remains on doing their very best for customers over the busy holiday period after the challenges of recent days."

Gatwick chaos - In pictures 21 show all Gatwick chaos - In pictures 1/21 Marisa age 10 from West Sussex waiting for a bus to Manchester airport then onto Dubai for a family Christmas Jeremy Selwyn 2/21 Adele Barber mother and kids Philip James and Elizabeth Just back from their holiday in Lapland to see Father Christmas. They were delayed overnight in Lapland Jeremy Selwyn 3/21 Elizabeth Barber Just back from a holiday to Lapland to see Father Christmas with family . Jeremy Selwyn 4/21 Staff try to lift the mood of gloomy travellers Jeremy Selwyn 5/21 Passengers boarding coaches at Gatwick this morning Jeremy Selwyn 6/21 Passengers sleep on the floor of the terminal 7/21 Passengers sleep on the floor of the terminal 8/21 Passengers sleep on the floor of the terminal 9/21 Passengers sleep on the floors and seats of the terminal 10/21 Jeremy Selwyn 11/21 Passengers head for the coaches to catch redirected flights Jeremy Selwyn 12/21 Passengers stranded at Gatwick Airport today Jeremy Selwyn 13/21 Passengers stranded at Gatwick Airport today Jeremy Selwyn 14/21 Florinane Tarrou and Sandra Shaffner stranded at Gatwick Airport today Jeremy Selwyn 15/21 Passengers stranded at Gatwick Airport today Jeremy Selwyn 16/21 Passengers stranded at Gatwick Airport today Jeremy Selwyn 17/21 Remi Denton 19 and boyfriend Dylan Batley amongst passengers stranded at Gatwick Airport today Jeremy Selwyn 18/21 Passengers stranded at Gatwick Airport today Jeremy Selwyn 19/21 Passengers stranded at Gatwick Airport today Jeremy Selwyn 20/21 Passengers stranded at Gatwick Airport today Jeremy Selwyn 21/21 Passengers stranded at Gatwick Airport today Jeremy Selwyn 1/21 Marisa age 10 from West Sussex waiting for a bus to Manchester airport then onto Dubai for a family Christmas Jeremy Selwyn 2/21 Adele Barber mother and kids Philip James and Elizabeth Just back from their holiday in Lapland to see Father Christmas. They were delayed overnight in Lapland Jeremy Selwyn 3/21 Elizabeth Barber Just back from a holiday to Lapland to see Father Christmas with family . Jeremy Selwyn 4/21 Staff try to lift the mood of gloomy travellers Jeremy Selwyn 5/21 Passengers boarding coaches at Gatwick this morning Jeremy Selwyn 6/21 Passengers sleep on the floor of the terminal 7/21 Passengers sleep on the floor of the terminal 8/21 Passengers sleep on the floor of the terminal 9/21 Passengers sleep on the floors and seats of the terminal 10/21 Jeremy Selwyn 11/21 Passengers head for the coaches to catch redirected flights Jeremy Selwyn 12/21 Passengers stranded at Gatwick Airport today Jeremy Selwyn 13/21 Passengers stranded at Gatwick Airport today Jeremy Selwyn 14/21 Florinane Tarrou and Sandra Shaffner stranded at Gatwick Airport today Jeremy Selwyn 15/21 Passengers stranded at Gatwick Airport today Jeremy Selwyn 16/21 Passengers stranded at Gatwick Airport today Jeremy Selwyn 17/21 Remi Denton 19 and boyfriend Dylan Batley amongst passengers stranded at Gatwick Airport today Jeremy Selwyn 18/21 Passengers stranded at Gatwick Airport today Jeremy Selwyn 19/21 Passengers stranded at Gatwick Airport today Jeremy Selwyn 20/21 Passengers stranded at Gatwick Airport today Jeremy Selwyn 21/21 Passengers stranded at Gatwick Airport today Jeremy Selwyn

The GIP consortium acquire Gatwick in 2009 for £1.5 billion.

The senior management team at Gatwick will stay in post following the deal, with chairman Sir David Higgins, chief exec Stewart Wingate and finance chief Nick Dunn continuing in their roles.

GIP will continue to manage the remaining 49.99% interest in Gatwick after the transaction closes in the second quarter.

Nicolas Notebaert, president of Vinci Airports, said: "As Gatwick's new industrial partner, Vinci Airports will support and encourage growth of traffic, operational efficiency and leverage its international expertise in the development of commercial activities to further improve passenger satisfaction and experience."

Additional reporting by Press Association