		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="111265417"
		 data-section="2">
		</amp-ad>
				</div>
			</div>
		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/02/baa-earnings-up-after-robust-year.jpg"><img class="alignnone size-full" title="BAA delivered a 'robust' financial performance in 2010" src="http://londonglossy.com/wp-content/uploads/2011/02/min-baa-earnings-up-after-robust-year.jpg" alt="BAA delivered a 'robust' financial performance in 2010"/></a></p>
<p>Airports operator BAA said it delivered a &#8220;robust&#8221; financial performance in 2010 despite disruption caused by volcanic ash, strikes and snow.</p>
<p>The owner of Heathrow and Stansted airports reported a 9% rise in underlying earnings to £966.9 million and said losses including one-off items narrowed to £316.6 million from the £821.9 million recorded a year earlier.</p>
<p>And with improved passenger growth at Heathrow over the second half of the year, BAA said it was on course to deliver a strong increase in profitability this year as it looks to deliver additional investment in facilities.</p>
<p>Chief executive Colin Matthews said: &#8220;We delivered a robust financial performance in 2010, despite the volcanic ash, strikes and snow that affected major airports across Europe and North America.&#8221;</p>
<p>BAA, which was criticised by airlines following disruption to services caused by December&#8217;s snow, said combined passenger traffic at Heathrow and Stansted declined 1.8% to 84.3 million due to the one-off factors last year.</p>
<p>At Heathrow, traffic declined 0.2% to 65.7 million but adjusted for the exceptional events the figure is estimated to have increased by up to 3.4%. Stansted&#8217;s reported traffic declined 7% to 18.6 million due to airline capacity reductions and economic uncertainty, as well as the ash cloud and weather.</p>
<p>BAA is facing the sale of Stansted and one of its Scottish airports after it lost a bid to appeal against an order made by the Competition Commission.</p>
<p>It argued that circumstances have changed significantly since the regulator ordered the sell-off, particularly in light of the coalition government&#8217;s move to rule out any new runways in the south-east of England.</p>
<p>Gatwick&#8217;s £1.5 billion sale in December 2009, which stemmed from the Commission&#8217;s ruling, resulted in a £277 million write-down on BAA&#8217;s books for 2009, when BAA also took an exceptional charge worth £217.8 million relating to its defined benefit pension scheme deficit.</p>
<p>The results, which relate to the company&#8217;s ownership of Heathrow and Stansted, show net debt increased 15.6% to £9.9 billion.</p>
			<div style="padding-bottom:15px;" class="wordads-tag" data-slot-type="belowpost">
				<div id="atatags-dynamic-belowpost-69e32542c2448">
					<script type="text/javascript">
						window.getAdSnippetCallback = function () {
							if ( false === ( window.isWatlV1 ?? false ) ) {
								// Use Aditude scripts.
								window.tudeMappings = window.tudeMappings || [];
								window.tudeMappings.push( {
									divId: 'atatags-dynamic-belowpost-69e32542c2448',
									format: 'belowpost',
								} );
							}
						}

						if ( document.readyState === 'loading' ) {
							document.addEventListener( 'DOMContentLoaded', window.getAdSnippetCallback );
						} else {
							window.getAdSnippetCallback();
						}
					</script>
				</div>
			</div>
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
