BAA has today published its 11* year traffic forecasts and capital investment plans for Heathrow, Gatwick and Stansted airports, its three price regulated London airports. BAA is forecasting average passenger traffic growth for these three airports of 2.8% per annum over this period, along with capital investment of approximately £9.3 billion (in 2007/08 prices).
Stephen Nelson, Chief Executive Officer, BAA said:
Last month BAA announced its ongoing investment to cut airport queues quickly, today we are focused on our long-term plans to free the travelling public from congestion and provide a good experience at our airports. Our investment programme is big, ambitious and long-term, yet will require no subsidy from taxpayers. The size and strength of BAAs balance sheet and our unrivalled experience in developing new airport facilities, give us great confidence that we can deliver this scale of investment on time and on budget. We now look to the regulatory authorities to deliver the stable regulatory system and sensible financial incentives necessary to deliver these plans
Major new airport facilities that are planned include:
- G2 Stansteds second runway and Terminal
- Heathrow East replacement for Terminal 2
- Renovation of Heathrows Terminals 3 and 4
- T5C, second satellite for Terminal 5
* Plans are for 11 years so that they cover next two regulatory periods, 2008-2013 and 2013-18. Previously, BAA has issued 10 year investment plans
