£1.4 billion investment in service standards and facilities
Over the next five years, BAA is prepared to invest £1.4 billion* at Stansted, improving the airports fabric and facilities, delivering higher standards of service to passengers and laying the foundations of the exciting Generation 2 second runway project, which underpins the 2003 Air Transport White Paper.
The Government has consistently acknowledged that the timely delivery of new airport capacity is increasingly important to the UKs economic prosperity and our global competitiveness and these investments will ensure that we begin to realise some £9 billion of economic benefits from Stansted, and deliver greater choice and opportunity for the millions of business and leisure travellers who use the airport every year.
We will now consider this CAA document in detail and look forward to engaging further with the Competition Commission to ensure that the importance of new capacity and sustained investment in quality airport facilities is reflected in the new pricing regime at Stansted.
* Figure based on 08/09 prices