BAA posts rise on growth at Heathrow
The UK’s largest airport operator has posted a substantial profit rise thanks to growth at London’s Heathrow airport.
Airport news for Heathrow,Flights on 26/04/2012.
Figures from the British Airports Authority posted on Wednesday showed that the firm saw a rise in quarterly profits of 15 per cent thanks to continued success at the largest airport in Britain. Despite the growth, the group continues push for additional capacity at the airport.
The Ferrovial-owned firm’s postings this week showed earnings amounting to £231 million for the three months leading up to March, as Heathrow handled some 15.7 million passengers over the period – a 4.4 per cent rise on figures seen the previous year.
But Jose Leo, the top financial officer for the BAA, said to Reuters reporters on Wednesday that his organisation would be able to keep delivering “modest growth” at the west London facility but said after that point that any further growth would be difficult. He said that without extra capacity that London will miss out on the opportunity to cater to emerging travel markets such as China and that such routes would go to competing facilities in Amsterdam and Frankfurt.
The news comes as aviation industry continues to plea to the UK Government to allow for greater airport capacity in the South East, after ministers elected to block the building of a third Heathrow runway due to environment and safety-related concerns.