From today (October 15), Heathrow, Glasgow, Aberdeen and Southampton Airports will operate under their own stand-alone brand and the name ‘BAA’ will be dropped. BAA (SP) Limited has changed its name to Heathrow (SP) Limited and BAA Funding Limited has changed its name to Heathrow Funding Limited.
Heathrow’s Chief Executive, Colin Matthews, commented: “We are a different company today from when BAA was formed. Over the last few years we have sold our stakes in Gatwick, Edinburgh, Budapest and Naples airports and we are in the process of selling Stansted Airport. The BAA name no longer fits. We do not represent all British airports; we are not a public authority; and, practically speaking, the company is no longer a group, as Heathrow will account for more than 95% of the business.”
The process of replacing the BAA brand with each individual airport brand is starting now and in future, financial results and monthly traffic figures will be published for Heathrow Airport only, which after the sale of Stansted will be the only airport with publicly-traded debt.