Regional airports 'will fare better in the credit crunch'
Fri, 24 Oct, 2008
Smaller regional airports may see less of a decrease in traffic during the credit crunch than larger hubs, it has been claimed.
According to Stewart Cordner of BAE Systems, places like London City Airport may do better even in the current economic climate because their traffic is different in terms of who travels through.
He admitted that, "while there is going to be a slight drop-off", these hubs will continue to see business travelers and similar people who need to travel on niche routes and airports such as London City will continue to cater for them.
According to the Civil Aviation Authority, 241 million passengers passed through UK airports in 2007, up 2.4 per cent from 2006.
Regional airports accounted for 42 per cent of the total passenger numbers.
Earlier this week, BAA played down any suggestions that the aviation and travel industry is suffering from the credit crunch, calling it a short-term correction and insisting that it will iron out in the same way that it did after the terrorist attacks of September 11th, 2001.