UK. BAA (SP) Limited, which owns BAA’s Heathrow and Stansted airports, today announced a strong retail performance for those locations for the first six months of 2010.
Net retail income per passenger rose +10.2% over the same period last year to £5.20 from £4.72 (see table below).
Passenger traffic for the two airports reached 38.7 million with underlying growth of +0.9% including +2.3% at Heathrow.
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BAA (SP) also noted continuing improvements in operational performance and customer service.
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“Heathrow is performing particularly well and achieved its highest-ever passenger satisfaction ratings in the first half“ |
Colin Matthews Chief Executive BAA |
Underlying revenue and underlying adjusted EBITDA gained by +6.7% and +18.3% respectively. Reported revenue was up +2.2% whilst adjusted EBITDA declined marginally by -0.2%
The group said its reported financial performance reflected the impact of the volcanic ash crisis and recent airline industrial action by British Airways.
BAA (SP) posted a reduced pre-tax loss with lower exceptional items and fair value adjustments
BAA Chief Executive Officer Colin Matthews said: “Heathrow and Stansted delivered an encouraging performance during the first half of the year and this partly offset the impact of volcanic ash and the British Airways cabin crew strikes.
“Heathrow is performing particularly well and achieved its highest-ever passenger satisfaction ratings in the first half.
“Both airports continue to benefit from strong retail momentum with income per passenger up +10%.
“Airports and airlines are facing continuing economic challenges and our focus remains on raising standards, maximising efficiency and continuously improving the service we provide to passengers and airlines.”
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