BAA is changing its name to reflect changes within the company, and they're now no longer known as BAA. Heathrow
airports now operate under their stand-alone brands. BAA (SP) Limited has changed its name to Heathrow (SP) Limited and BAA Funding Limited is now Heathrow Funding Limited.
What this means is:
- Over time the name BAA will disappear and the relevant airport name will take its place.
- As now, the relevant registered company number and name will appear on documents and correspondence.
- The services provided, and all usual contacts, will remain the same.
- Over time, the BAA.com website will be archived and replaced by pages on the relevant airport websites.
Chief Executive Colin Matthews said:
"We are a different company today from when BAA was formed. Over the last few years we have sold our stakes in Gatwick, Edinburgh, Budapest and Naples airports and we are in the process of selling Stansted Airport. The BAA name no longer fits. We do not represent all British airports; we are not a public authority; and practically speaking the company is no longer a group as Heathrow will account for more than 95% of the business".
"Dropping the BAA name marks a symbolic break with the company of the past. We want Heathrows focus to be on its customers, to continue to improve its operational performance and to carry on investing billions of pounds in new passenger facilities. This summer, the Olympics and Paralympics showed the UK and Heathrow at their best, delivering a welcome of which the UK could be proud. Now we have to build on that welcome still further, providing a better experience to our customers every single day."
We are now starting the process of replacing the BAA name with each individual airport brand. We will continue to publish quarterly financial results for airports financed with publicly-traded debt. Following the sale of Stansted these results will therefore focus solely on Heathrow Airport.