BAA reduces losses
Posted 28/07/2011
BAA has reduced its losses for the first half thanks to a rise in passenger numbers.
The airports operator reported a pre-tax loss of £249 million in the six months to June 30, compared with £279.7 million last year.
Passenger numbers grew 7.1% to 41.4 million, with 9.1% growth at London Heathrow.
BAA said growth at Heathrow was at record levels but admitted the rise was flattered by last year’s ash cloud and industrial action which had hit traffic.
Announcing its results, BAA also confirmed it would be seeking a judicial review against a directive by the Competition Commission that it must sell Stansted by October, followed by either Glasgow or Edinburgh.
By Bev Fearis
Originally published 28 Jul 2011 at: http://rss.feedsportal.com/c/398/f/5923/s/16f6e896/l/0L0Stravelmole0N0Cstories0C114870A30Bphp0Dmpnlog0F1/story01.htm
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