Pax down but BAA earnings to climb on higher passenger spend

BAA stated that its London Heathrow and London Stansted airports are expected to increase earnings in FY2012 more than forecast (This is London, 09-Jun-2011). Earnings are poised to increase despite an expected fall in passenger numbers at the airports, which the airport operator has revised down to 86.9 million from 88 million. Earnings should increase due to higher passenger spend in airports, which has increased expected EBITDA by GBP4 million to GBP1.12 billion.