BAA reveals huge infrastructure investment plans

[Buster the Bear]

BAA to invest more than £8bn in London airports

Airport operator BAA said it has renewed its commitment to invest more than £8bn (€11.94bn) in its London airports over the 11-year period, 2003-2014.

The centrepiece of the capital programme, Terminal 5 at Heathrow, remains ahead of schedule and on budget with a total cost of about £4.2bn (€6.26bn).

The terminal is now 35% complete and as of today four new aircraft stands come into use, 11 months ahead of the regulatory timetable, it said.

BAA plans to spend a total of £8.69bn (€12.97bn) on its three London airports, of which it will invest £7.19bn (€10.73bn) in Heathrow, £841m (€12.55m) in Gatwick and £662m (€988m) in Stansted.

The Stansted forecast excludes the costs of the Generation 2 second runway and terminal project!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
http://whipsnade.co.uk/picturelibrary/jpeg150/br/brown_bear_120_wide.jpg

[PAXboy]

Dear old BAA, announcing investment in T5 that was announced many years ago. New Labour really have had an effect on the country then. :rolleyes:

[LTNman]

Shame they don't own Luton.

[Buster the Bear]

Stansted traffic to jump by 73% over next decade

BAA said Thursday it expected passenger traffic at Stansted to increase by 73% from its 2003/04 level of 19.4m to 33.6m by 2013/14 as a result of a boom in the number of flights operated by low cost carriers.

BAA said Thursday it expected passenger traffic at Stansted to increase by 73% from its 2003/04 level of 19.4m to 33.6m by 2013/14 as a result of a boom in the number of flights operated by low cost carriers.

In its latest long-term forecast, the company, which owns seven UK airports including the three biggest in the south east, predicted passenger numbers at Heathrow would rise from 64.3m this year to 87m (+35%) by 2013/14 and at Gatwick from 30m to 40.5m (+35%) over the same period.

BAA also renewed its commitment to invest more than £8bn in its London airports between 2003 and 2014. The bulk of that will be spent on Heathrow's fifth terminal, which remains ahead of schedule and on budget, BAA said, with a total cost of around £4.2bn at 2004 prices. T5 is now 35% complete, with four new aircraft stands coming into use this week, 11 months ahead of schedule.

Around £840m will be spent on expanding Gatwick and £660m on Stansted, while Heathrow takes the lion's share of the total budget with just over £7bn.

Mike Clasper, BAA chief executive, commented: 'This programme shows BAA's ongoing commitment to developing our airports to meet the needs of our stakeholders. Our aim is to deliver airport capacity and services to match spending to the needs of our passengers and airlines, and deliver airport capacity and services that represent value for money.'

British Airways will be the sole occupier of Terminal 5. Last year, BAA announced it was to spend an extra £100m on the project to enable BA to move into T5 in one stage in 2008, rather than in phases between 2008 and 2012. While rival carriers Virgin Atlantic and bmi objected to the additional spend, BAA said the £100m would be offset by cost savings in Heathrow's existing central terminal area, which would no longer need extra baggage and check-in facilities as BA's early departure would ease overcrowding.

[Young Paul]

Hmm. Terminal 5 funded by people operating from shabby terminals 1-3. STN funded by people operating from LHR.

Dead cert investment, BAA - any risk is borne by their customers, the airlines. Ironically, BAA think that their customers aren't the airlines, but the passengers.