Strategic Meetings Summit London, 26 September,
September 29 2022, Kimpton Fitzroy London
Friday 30 September 2022, JW Marriott Grosvenor
BAA has published its annual long term forecast and capital expenditure projections for Heathrow, Gatwick and Stansted and BAA will have invested over ”8bn (in 2004/5 prices) over the 11 year period, 2003-2014. The centrepiece of the capital programme, Terminal 5, remains ahead of schedule and on budget with a total cost of approximately ”4.2bn at 2004 prices. BAA's agreement with British Airways for the airline to occupy T5 in a single move in 2008, rather than phasing its occupancy over four years between 2008 and 2012, will free capacity in Terminal 1 at an earlier date. This will enable BAA to complete works in Terminals 1 to 4 more quickly and efficiently and ensure consistency of service standards across the airport. The Heathrow capital programme includes improvements to the central area terminals. BAA is spending around ”840m to grow Gatwick from current traffic levels, of 30m to just over 40m passengers by 2013/14. Over ”660m will be invested in Stansted to enable traffic to grow to 34m passengers a year by 2013/14.