BAA reduces 2010 EBITDA forecast

UK's BAA announced (24-Jun-2010) EBITDA for 2010 is forecast to be GBP946 million based on forecast passenger traffic for the year of 85.2 million. The updated 2010 adjusted EBITDA forecast is only GBP10 million lower than the forecast made in Dec-2009, despite a combined estimated impact of more than GBP40 million from the volcanic ash disruptions, industrial action and winter weather. BAA stated the underlying outperformance reflects primarily higher forecast passenger traffic (excluding the impact of the disruptions referred to above), net retail income per passenger and lower operating costs. [more]