Summary
Airports operator BAA said profits had been dented by falling passenger numbers as soaring fuel prices and the economic downturn rocked the aviation sector. BAA, owned by Spanish infrastructure giant Ferrovial, posted underlying operating profits of pounds582 million - more than 18 per cent below last year. The number of passengers passing through BAA's seven UK airports slid 2.8 per cent to 145.8 million. Chief executive Colin Matthews, who warned of another "challenging" year ahead, said: "BAA performed strongly in 2008 although its performance was affected by a drop in passengers, which reflects the general economic situation." BAA owns Heathrow, Stansted and Gatwick airports around London as well as Edinburgh, Aberdeen, Glasgow and Southampton. But the Competition Commission is likely to require the Spanish-owned airport operator to sell Gatwick and Stansted, as well as Edinburgh airport.
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Falling Passenger Numbers Hit Baa
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