BAA declares itself prepared for 2012 London Olympics

Colin Matthews, chief executive of BAA, has said the UK airports operator is prepared for the influx of guests during the London 2012 Olympic Games. Releasing financial results earlier, Matthews said: “London 2012 is Britain’s biggest peacetime transport challenge and we are spending more than £20 million to ensure Heathrow is ready for its busiest ever period.” Developments include building a temporary Games Terminal; preparing to host remote check-in at the Olympic Village; and training more than 1,000 volunteers who are giving a warm welcome to athletes on behalf of London. Also today, BAA reported revenue of £1.2 billion for the six months to June 30th, up 8.4 per cent on the same time last year. Earnings before interest, tax, depreciation and amortisation rose 8.8 per cent to £555.2 million. However, BAA recorded a pre-tax loss of £50.9 million, mainly because of large interest payments it makes on its debt. “BAA is reporting a strong operational and financial performance for the first half of 2012,” continued Matthews. “Higher passenger numbers and increased yields are driving revenue growth which is being invested in new facilities for passengers. “Passengers tell us they are noticing the improvements with Heathrow receiving its highest ever passenger satisfaction scores in the two most recent quarterly Airport Service Quality surveys.” Heathrow passenger numbers were up 2.2 per cent over the first six months of the year, to a new record 33.6 million.