BAA is cutting 700 jobs under a cost-saving programme. The company said it would slash management and back office jobs out of its 12,000-strong workforce under plans to reduce costs by ”45 million per year from 2008/09. The cuts will result in ”90 million of one-off operating costs. The airport operator, which owns Heathrow, Gatwick and Stansted also reported a 5.2% rise in interim pre-tax profits as higher retail revenues helped offset the impact of the July 7 bombings in London and a strike at Heathrow. The profit to the end of September was ”366 million.
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