Airports operator BAA has announced a 15.5% increase in turnover, despite: “Challenging” market conditions of a 10% reduction in passenger numbers.
Turnover increased for the airports operator, which is owned by Spanish firm Ferrovial, increasing from £452M to £522M in the three months to March 31 - a 15.5% rise.
Income per passenger increased by 8.8%, from £4.33 to £4.71 in the same period, and income from operations increased by 59.7% to £223.7M.
Chief Executive of BAA Colin Matthews said: “Today’s results were delivered in the most difficult economic circumstances, but are in line with our expectations.
“Although overall traffic trends weakened due to the economic downturn, Heathrow continues to demonstrate resilience, benefiting from its position as a major global hub airport for long-haul services. The rest of the year will be difficult and will present more challenges but our focus remains on raising service standards and maximising efficiency,” he said.
The operator has confirmed that it has received bids from consortia to buy Gatwick, which BAA is expected to sell under pressure from the Competition Commission. “A number of bids were recently received relating to the proposed disposal of Gatwick. These are currently being reviewed. An announcement about the outcome of this process is expected in the coming weeks,” say BAA.