BAA to axe 700 jobs
Airport operator BAA is shedding 700 jobs at Heathrow, Gatwick and Stansted as it looks to save £45 million a year.
It said back office and management roles will be axed over the next two and a half years although it stressed security staff will not be reduced.
News of the job losses emerged as BAA reported encouraging half-year results to September 30 despite an economy slowdown, the London bombings and wildcat strikes at Heathrow.
Underlying profit climbed 9.2% to £412 million while retail income increased 3.8% to £324 million.
Overall passenger numbers rose 2.5% to 82.3 million, leading to a revenue increase of 6.4% to £1.17 billion.
Traffic through Heathrow in the six months remained static at 35.8 million, largely due to the bombings and strikes, although operating profit increased more than 13% to £233 million.
Gatwick volumes rose almost 3% to 19.1 million but operating profit remained flat at £74 million.
At Stansted meanwhile, passenger numbers increased 6.3% with a rise in operating profit of 3.4% to £30 million.
BAA said scheduled services are continuing to grow at the expense of the charter market while long haul services are also expanding.
Report by Steve Jones
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