BAA PLC has confirmed a ”8.4bn London airports' capital investment programme (at current prices) for the 11 year period, 2003/04 to 2013/14. BAA says that it will work closely with what it calls ”its airline partners”. The plans are designed to increase the capacity and quality of its three London airports' facilities and build the fifth terminal for Heathrow. Annual passenger numbers for the next 11 years are forecast to grow from 109.3m today, to 157.6m 2013/14. The programme is designed to provide facilities to accommodate this growth and comprises an investment of ”6.6bn at Heathrow, to include ”3.2bn on T5 and ”3.4bn on improvements to the existing terminals; ”1bn at Gatwick, to take the airport up to around 42m passengers per annum, within the existing two terminal and one runway configuration; and around ”800m at Stansted, to develop the airport to around 25m passengers per annum. http://www.baa.com