BAA's traffic fell 7.3% last month - the 14th consecutive monthly decline - and the operator stated the outlook remains "challenging". Passenger traffic at Heathrow was "resilient", according to BAA, declining just 3.9% to 5.4 million, while volumes were down 19% at the LCC-dominated Stansted. Gatwick's passenger numbers declined 6.5%, reflecting the impact of EU-US open skies liberalisation and the summer schedule.
London Heathrow, Gatwick and Stansted airports' passenger numbers growth: Jun-2008 to May-2009
"No material change" to conditions
Overall, BAA stated demand conditions remained weak, but were "not changing materially". By region, European scheduled traffic was down by 5.2% and North Atlantic traffic by 9.1%, while other long haul routes recorded a collective 1.8% decrease.
BAA stated, "the results in both long haul segments represented slight improvements on recent underlying trends while European scheduled performance was unchanged. Domestic traffic was down by 10.0%, a slight worsening on recent months, but despite falling by 20.5% European charter traffic actually improved on its recent underlying trend".
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Selected airports daily share price movements (% change): 10-Jun-09
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