BAA gone

The name BAA, still often thought of as “British Airports Authority” created in 1965, has been officially dropped today (12 November 2012) following an announcement in October that Heathrow Airport Holdings Ltd had been created (see BTN 22 October).

Aberdeen, Glasgow, Heathrow, Southampton and Stansted Airports will now operate solely under their own stand-alone brand.  BAA was privatised in 1986 and de-listed from the Stock Exchange in 2006 when acquired by a consortium led by Ferrovial of Spain.

Heathrow Chief Executive, Colin Matthews, said: “We are a different company today from when BAA was formed.  Over the last few years we have sold our stakes in Gatwick, Edinburgh, Budapest and Naples airports and we are in the process of selling Stansted Airport”.

“We will continue to publish quarterly financial results for airports financed with publicly-traded debt.  Following the sale of Stansted these results will therefore focus solely on Heathrow Airport”.

The two new trading companies are Heathrow (SP) Ltd and Heathrow Funding Ltd.  Derek Provan, Amanda McMillan and David Lees continue as the Managing Directors of Aberdeen, Glasgow and Southampton airports respectively.  At present the current web addresses are retained. www.baa.com

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