BAA is set to kick off a statutory review this week due to European Union regulations determining the review of contracts run by BAA.
The account is currently held by ZenithOptimedia, a Publicis Groupe agency. Under EU regulations, agencies will be asked to submit proposals through the organisation's Tenders Direct tool.
A spokesman for BAA said: "It's true that we're reviewing. We are governed by EU regulations that cover the review of all major contracts."
BAA employs 15,000 staff and runs some of Britain's busiest airports, including Heathrow, Gatwick, Stansted, Edinburgh, Glasgow and Aberdeen. In February, 10.2 million passengers passed through its UK airports. BAA also runs Naples airport in Italy and owns the Heathrow Express and World Duty Free, which it claims is the largest travel retailer in the world.
The operator has recently come under scrutiny by the Competition Commission, as a result of which BAA may have to sell off one of the airports it runs in the South East of England, probably Gatwick.
BAA spent £1.6m on media, including press, radio and outdoor, in the past 12 months, according to Nielsen Media Research figures. The airport operator uses a range of ad agencies, including Saatchi & Saatchi, St Luke's and Delaney Lund Knox Warren.