BAA moves towards sale

BAA is moving quickly towards the sale of London’s second airport – Gatwick – with an announcement of a preferred buyer not many weeks away.  The Spanish-owned company has published a pre-tax loss of UKP316.2m (2008 – UKP55.6m) for the first quarter and says that passenger traffic at its three south east England airports declined 10% in the period to UKP24.8m (2008 – UKP27.6m).  It is not legally bound to publish quarterly figures for its other four airports, one of which it has a requirement to sell.  Heathrow declined 6.4% to 14.4m (2008 – 15.4m) and both Gatwick and Stansted reported a drop in traffic of 14.6% to 6.3m and 4.1m respectively (2008 – 7.4m and 4.8m). www.baa.com

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