BAA unveils £9.3bn airport investment
Airports operator BAA plans to cut congestion at its London airports as part of a £9.3 billion investment plan.
The company is forecasting average passenger growth at Heathrow, Gatwick and Stansted of 2.8% a year over 11 years.
New facilities planned include a second runway and terminal at Stansted, Heathrow East – a replacement for Terminal 2 at Heathrow – renovation of Herthrow Terminals 3 and 4 and T5C, a second satellite for Heathrow Terminal 5.
CEO Stephen Nelson said: “Last month BAA announced its onging investment to cut airport queues quickly, today we are focused on our long-term plans to free the travelling public from congestion and provide a good experience at our airports.
“Our investment programme is big, ambitious and long-term, yet will require no subsidy from taxpayers. The size and strength of BAA’s balance sheet and our unrivalled experience in developing new airport facilities give us great confidence that we can deliver this scale of investment on time and on budget.
“We now look to the regulatory authorities to deliver the stable regulatory system and sensible financial incentives necessary to deliver these plans.”
by Phil Davies
Phil Davies
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