BAA profits fall
Thu, 26 Feb, 2009
BAA is suffering from dropping profits as passenger numbers fall and fuel prices rise.
Stansted has seen a six per cent slump in profits, going from £476 million to £23 million.
Passenger numbers for BAA have fallen by 2.7 per cent.
Colin Matthews, chief executive, said that 2009 looks to be "challenging" and acknowledging that the economic climate is expected to affect passenger volume.
Combined, Heathrow, Stansted and Gatwick experienced a fall of 2.6 per cent, or 3.4 million fewer passengers.
But for the former, the passenger numbers declines by a relatively low 1.4 per cent.
Airport company BAA is regulated by the Competition Commission and the Civil Aviation Authority for its prices.
Owned by Ferrovial, its airports are in London, Scotland and Southampton.
Its Scottish hubs are in Edinburgh, Glasgow and Aberdeen.
It states on its website that it has "a clear accountability to both public duty as well as to our passengers".