BAA loss narrows at Heathrow and Stansted
27.07.11
BAA narrowed the first-half (to the end of June) loss at Heathrow and Stansted airports, as an alliance between British Airways and American Airlines and growth in emerging markets caused a recovery in traffic. The net loss at the two airports was £130.4 million, compared with deficit of £260.2 million a year earlier. Sales increased 12 percent to £1.07 billion.
Passenger numbers at the airports rose 7.1 percent (up 9.1 percent at Heathrow) to 41.4 million. Increasing travel demand from emerging markets including Brazil, India and China has also boosted traffic at Heathrow, Europe’s busiest airline hub.
BAA reported a 7.6 percent increase in net retail income (NRI) per passenger to £5.59, as gross retail income increased by 14.2 percent to £246.7 million and net retail income surged by 15.3 percent to £231.5 million. That strong commercial performance helped drive a 12.1 percent increase in total revenues and a 27.1 percent increase in adjusted EBITDA.
The performance was led by duty and tax free, airside specialist shops, car parking and catering. Strength in car parking reflected increased usage, tariff increases and strength in premium business usage.
BAA said in the statement: ‘Most recently, the relative performance in North Atlantic traffic improved significantly in the second quarter, driven by the success of American Airlines and British Airways joint transatlantic services.'
Colin Matthews, Chief Executive Officer of BAA, said: ‘This is a strong financial performance that reflects record passenger numbers, increased revenue per passenger and good cost control. We remain focused on customer service and Heathrow has achieved some of its best ever levels of flight punctuality and baggage delivery.'
‘BAA is investing £1 billion in new passenger facilities at Heathrow during 2011 and the airport’s newest, Terminal 5C, opened in June, improving passengers’ experience of the airport.’
To book heathrow airport hotel or heathrow airport car park at the lowest price, click on these links to two great heathrow airport car parking and heathrow airport hotel price comparison page.
