September 2022, Virtual
September 29 2022, Virtual
Now in its 27th year, the Business Travel Awards
BAA PLC'S THREE LONDON AIRPORTS - Heathrow, Gatwick and Stansted - made a pre-tax loss of £545.7 million in the first half of this year.
However, BAA's chief financial officer, Jose Leo, says the figures include more than £400 millions'-worth of non-cash items, including property valuation write-downs and the company's pension fund deficit. "These results underline our continuingly-strong cash-generative business that provides a robust platform to address our ongoing investment and liquidity requirements," says Leo.
BAA CEO Colin Matthews added: "BAA's underlying performance remains in line with our expectations, but trading conditions for the industry remain difficult."