BAA Releases 2011 Results

BAA is investing £2 billion on Heathrow’s new Terminal 2, which is set to open in 2014. (BAA)

BAA is investing £2 billion on Heathrow’s new Terminal 2, which is set to open in 2014. (BAA)

Airports operator BAA, the owner of London Heathrow and Stansted, has released its results for 2011.
The two airports served 87.4 million passengers last year – 3.7% more than in 2010 – with a 2% underlying growth at Heathrow.  The highest ever passenger satisfaction was also recorded at the UK’s largest airport, showing strong service performance.
After its pre-tax loss of £316.6 million in 2010, BAA saw improvement last year, returning a loss of £255.8 million.  Revenue rose by 9.9% reflecting higher tariffs and continued strong retail performance, the company said.
Colin Matthews, CEO, commented:  “BAA delivered a strong operational performance in 2011 with record traffic levels and high service standards at Heathrow.  Last year saw Heathrow’s best punctuality performance in over a decade.  We continued to invest significantly in further improving our airports during 2011, particularly on the new Heathrow Terminal 2.”