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The British Airport Authority have unveiled its contingency plans following the new governments axing of a third runway at Heathrow. £700million has been ring-fenced by the Spanish owned firm as part of their £5billion capital investment plan - but these funds could now be diverted. A direct rail link between the countries largest airport and South London's Waterloo station is one possibility as is building a new transit system between Heathrow's terminals to link the airport together. Terminal One could be closed, merging with terminal two creating a super depot. The Waterloo plan would be part of Airtrack, the plan to build a rail connection from Staines to Heathrow which would make a direct link to Waterloo and southwestern rail services. BAA said it would begin detailed talks with airlines to find out what they want for the airport.
Stansted appeal - profits hit
Plans are also afoot to challenge a Competitions Commission ruling forcing the firm to sell off Stansted. BAA sold Gatwick to Global Infrastructure Partners for £1.51bn last year. Today the company trimmed profit forecasts by just £10million, despite being hit by bad weather, the British Airways strike and the volcanic ash cloud. The company, which owns Heathrow and Stansted, said those setbacks cost it £40m. But it benefitted from a rise in the number of passengers and increased spending at airport shops. The loss-making airport operator says its operating cashflow will still be some £946m this year. The operator posted a pre-tax loss of £821.9m in 2009, largely because of the Gatwick sale, and even worse than the £324.2m loss it made in 2008.
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