28.07.10
BAA (SP) Ltd, which owns Heathrow and Stansted airports, reported a first half pre tax loss of £279.7m, compared with a loss of £545.7m last year. Revenue for the half year to June 30 was £957.6m compared to 937.2m.
Passengers fell to 38.7m from 40.5m, but net retail income per passenger increased from £5.20 from £4.72. The airport operator said encouraging performance during the first half of the year had been offset the impact of volcanic ash crisit and twenty two days of BA cabin crew strikes.
The company's net debt increased to £8.66bn from £8.58bn, and the group confirmed that the outlook for adjusted EBITDA for the year to December 31 remains consistent with guidance set out in investor report on June 24.
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