BAA's ‘resilient’ performance, but traffic continues to decline

Announcing results for the nine months ended Sep-08, Colin Matthews, BAA Chief Executive, stated, "BAA has delivered a resilient performance with results in line with forecasts. With trading conditions expected to remain challenging in the coming months, we are maintaining our sharp focus on operational improvement and a substantial programme of capital investment, which will lead to better passenger service standards and lower costs."

The capital investment seems to mirror the British government's decision to 'spend its way' out of the recession, which is now official in the UK. But traffic continues to decline, most worryingly at the 'for sale' Gatwick.