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13-Jan-2011 11:57 AM

BAA pax traffic down 2.8% in 2010

BAA announced passenger traffic down 2.8% - traffic highlights in 2010:

BAA pax traffic falls 10.9% - traffic highlights in Dec-2010:

BAA: "All of BAA's airports were affected by severe weather to some extent in December and the resulting disruption is estimated to have affected profits across the BAA group by approximately GBP24 million. The approximate financial cost by airport, measured in terms of the reduction in profit, was GBP19 million at Heathrow, GBP1 million at Stansted and GBP4 million across the group's four other UK airports of Aberdeen, Edinburgh, Glasgow and Southampton. The reduction in profits partly reflects lower revenues, principally in terms of lost aeronautical income driven by reduced passenger traffic. A significant proportion (approximately 40% at Heathrow) of the reduction in profit resulted from higher operating expenses which, other than the extra costs of operating in unusually severe winter weather, reflected in particular the costs of supporting passengers in the difficult circumstances." Company Statement. Source: BAA, 12-Jan-2011.

BAA: "The coldest December on record closed airports around the world but we must carefully examine the snow plan agreed with airlines earlier in the year and strengthen it to protect against such unprecedented weather. We are sorry for the flights that had to be cancelled as a result of the snow. The cost of any disruption to BAA's airports is significant and a strong financial incentive for us to continue to make Heathrow more resilient. There were many challenges in 2010, ranging from poor weather and security threats through to industrial action and the cloud of volcanic ash. But we have continued our GBP1 billion-a-year investment programme and are encouraged by Heathrow's underlying positive performance during challenging economic times. Heathrow has improved considerably in recent years, and we are determined to put December behind us and win back confidence by improving customer service, upgrading our terminals and doing whatever it takes to improve people's journeys." Colin Matthews, CEO. Source: BAA, 12-Jan-2011.

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