Wednesday 13 December 2017

BAA narrows losses after busy summer

The owner of Heathrow and Stansted airports today said it narrowed its losses for the year to date with the help of record breaking passenger numbers in July and August.

BAA said revenues from the two airports increased by 4.4pc to £1.5bn (€1.72bn) in the nine months ending 30 September, while pre-tax losses were reduced by 75.5pc to £192.6m.

Heathrow recorded its busiest ever months in July and August and its busiest ever day on 18 July.

BAA also today announced plans to issue up to £325m of bonds as it looks to repay loans that are due to expire next year.

Press Association

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