bmi today again attacked BAA proposals that would see inflation-busting increases to Heathrow landing charges following the announcement of BAA`s latest quarterly financial results.
BAA, the owner of all three major London airports, including Heathrow, this morning announced group revenues of £1,503 million, up 4.3 per cent, and group profits of £495 million, up 6.0 per cent, for the nine months to 31 December 2002 - just as aviation authorities are considering its claim for an inflation-plus-40 per cent increase in landing charges at Heathrow.
Nigel Turner, chief financial officer of bmi, said:
“It is obscene that with this level of profit, the BAA may be allowed 40% plus inflation increases in its landing charges. The airlines - who are facing the most challenging trading conditions for years post the events of September 2001- are being forced to fund BAA`s spiralling investment policies in advance of seeing any tangible customer benefits.
“These figures make a mockery of claims put forward by the BAA about Terminal 5 capital investment programme costs and any risk associated with it. We hope the CAA takes clear note of the financial comfort that the BAA clearly enjoys.”