By Max Clarke
Record passenger numbers at Heathrow has seen revenue at airport operator BAA rise 12% for the 6 months ending June, compared to the same period last year.
"This is a strong financial performance that reflects record passenger numbers, increased revenue per passenger and good cost control,” said Colin Matthews, BAA Chief Executive.
The company, owned by the Spanish giant, Ferrovial (BMAD: FER), still posted a loss of £116 million, though this is a 30% drop from H1 2010. The company is still incurring legal costs from their fighting of the Competition Commission ruling to sell its London Stansted airport, as well as one of the major Scottish airports.
“We remain focused on customer service and Heathrow has achieved some of its best ever levels of flight punctuality and baggage delivery. BAA is investing £1 billion in new passenger facilities at Heathrow during 2011 and the airport’s newest, Terminal 5C, opened in June, improving passengers’ experience of the airport."
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