BAA raises forecast on Heathrow Airport traffic gain
Published 16/12/2010 | 11:35
BAA, owner of London’s Heathrow and Stansted airports, raised its full-year earnings forecast as traffic increased.
Earnings before interest, taxes, depreciation, amortisation and one-time gains or costs will exceed £972m (€1.1bn) this year and rise a further 15pc next year, the London-based company said today in a statement. Revenue in 2011 will advance 11pc to £2.3bn.
Airlines are adding destinations from Heathrow, Europe’s busiest airport, and increasing flights on existing routes as travel recovers from the global recession.
BAA, which is owned by Spanish construction company Ferrovial, is forecasting that Heathrow’s passengers next year will exceed 70 million for the first time.
The airport operator predicted on October 27 that adjusted Ebitda in 2010 would be at least £956m.
Eleven-month traffic at Heathrow, the main hub of British Airways, increased 0.6pc from a year earlier to 60.9 million passengers, while the figure at Stansted, where Ryanair has a base, declined 6.7pc to 17.3 million, BAA said on December 10.