Low cost airline, Ryanair has indicated that it might acquire a 25 per cent stake in Stansted airport after it was approached by consortia that are looking to acquire the airport from Stansted's current owner BAA.

Ryanair Chief executive Michael O'Leary said, "Most of the consortia want us to take a stake. I'd be happy with an agreement and no stake. But they're keen to work with Ryanair to increase traffic."

BAA has abandoned its efforts to overturn a ruling by the Competition Commission ruling that put the airport on sale during the previous month. A deal is expected to be reached by the end of the year with the BAA.

O'Leary accused BAA of gross mismanagement and CAA of complete regulatory incompetence for a fall in traffic at the airport over the past five years. He added that there are various ways for cost savings in the airport. He believes that the airport can increase its passenger traffic to 60 million passengers a year from the current level of 30 million.

O'Leary pointed out that most bidders for the airport are aiming to earn money as soon as possible but the airline is looking to be involved in the long term and wants to lower cost and boost growth at the airport.