BAA's Financial Situation

Press aticles

It has been widely reported that BAA and Ferrovial are facing severe financial problems.

The Financial Times estimates that BAA needs to raise £12bn to service its own borrowings, Ferrovial debt and its investment programme to 2013.

Ferrovial, whose shares fell 35 per cent over the 12 months to March 2008, cannot bail out BAA since it faces severe cash flow constraints itself.

This news section covers some of the articles on BAA's financial position.

BAA losses widen, hit by drop in passengers and Gatwick sale PDF Print E-mail
Wednesday, 28 October 2009 00:00

BAA, owner of Britain's main airports, posted an increased loss of £785m in the first nine months of the year, hit by falling passenger numbers, a loss on the sale of Gatwick airport and an increased shortfall in its pension fund. Losses widened from £523m pre-tax in the same period last year after one-off charges of £670m, BBA said in statement. These included £262m to cover an increased pension deficit and a £225m impairment loss on the £1.5bn sale of Gatwick airport to Global Infrastructure Partners.
 
Turnover rose 7.6pc to £1.85bn, helped by an increase in transfer passengers at Heathrow and resilience in long haul flghts with markets such as India (+10.3pc) and the Middle East (+8.0pc) driving performance.

Read the full article in The Telegraph.


Further failure from our incompetent, arrogant, devious, domineering neighbour.

There will be no tears shed in west London at this latest tale of woe.
 
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