23-Feb-2010 12:25 PM

BAA: No regrets on London Gatwick sale

UK’s BAA CEO, Colin Matthews, stated the company does not regret selling London Gatwick Airport, after it reported GBP277.3 million in losses related to the sale of Gatwick (guardian.co.uk, 22-Feb-2010). Mr Matthews added BAA is under no pressure to sell another airport despite an upcoming debt repayment of GBP1.6 billion in Apr-2010, stating there are different mechanisms for financing the debt. Mr Matthews also stated BAA supports plans to construct an alternative high speed rail link from London to Birmingham, running through London Heathrow. The airport owner is now also committed to investing GBP1 billion to upgrade its airports this year, which CEO, Colin Matthews, believes will result in passengers spending more inside the airports (Reuters, 22-Feb-2010).

BAA: “We don't regret selling Gatwick. We got a good outcome but it was not a good year for selling airports and the write-down of GBP277 million was a consequence of that… Passengers who are confident and relaxed are more inclined to spend money than those who are stressed or hassled or delayed. The better we make the airport work, the better our retail performance is,” Colin Matthews, CEO. Source: guardian.co.uk/Reuters, 22-Feb-2010.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More