BAA, the owner of Heathrow, Gatwick and Stansted airports, has highlighted the dire impact of the recession on air travel as it slumped to a £545.7m loss in the first half of 2009 on the back of high finance charges. Passenger numbers fell 7.4pc year-on-year to 55.2m in the six months to June 30 as the downturn held back consumer spending and business travel.

Heathrow proved the most resilient of BAA's airports, with passenger numbers falling just 3.8pc as it benefited from its position as a global hub for long-haul travel. In contrast, passengers at Stansted fell 14.4pc due to its vulnerability to airlines, such as Ryanair, cutting capacity as trading conditions worsen.
 
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"Heathrow proved the most resilient of BAA's airports, with passenger numbers falling just 3.8pc as it benefited from its position as a global hub for long-haul travel" is spin for "Heathrow's passenger numbers fell just 3.8pc because BA and other airlines have moved services from regional airports and Gatwick to stuff the hub".

London is amply served with airport capacity and the last thing it needs is for Heathrow to be expanded.