BAA emerges from turbulent times with healthy 2011 figures
After stormy skies over previous financial years, BAA is reporting more favourable conditions in its figures ending September 30.
The airports operator saw growth at Heathrow of 6.1%, revenue across airports up by 10.2% and earnings up 17%.
BAA attributed this to “improved underlying traffic, increased revenue per passenger, cost control and no recurrence of 2010’s volcanic ash and strike disruptions”.
However, while passengers increased through Heathrow (the airport saw record monthly passenger traffic since April), Stansted, which BAA is being made to sell, saw a 2.1% drop.
Chief executive Colin Matthews said: “Our strong financial performance was driven by underlying growth in passenger numbers, higher revenue per passenger, continued cost control and no recurrence of the volcanic ash and strike disruptions of 2010. We are focused on progressively improving passengers' experience and the service we offer airlines at Heathrow.
“The new Terminal 2 is rapidly taking shape and work is continuing on a baggage transfer system which will move bags faster between Terminals 3 and 5. Our investment in these projects reflects our commitment to ensuring Heathrow's future as Europe's leading hub airport.”
by Dinah Hatch
Dinah
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