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01/11/2005
BAA changes to cost 700 jobs
BAA has announced that 700 jobs are to go as part of a reorganisation programme.
The cuts, which would focus on back office staff and management, are expected to result in savings of £45 million, the airports operator said.
The announcement came as BAA reported an increase of 9.6% in first-half operating profits, rising to £412 million.
Passenger traffic at BAA’s airports, including Heathrow, Gatwick, Stansted and Naples, increased by 2.5% on last year.
Revenue also increased to £1.17 billion, boosted by an increase in retail sales at airport shops of 3.8%, taking the total to £324 million.
Mike Clasper, BAA’s Chief Executive, said that the firm had achieved the rise in profits, despite a slowdown in the UK economy and the effects of the July 7 bombings and the Gate Gourmet dispute at Heathrow.
Mr Clasper said: “We remain confident of delivering a good retail performance maintaining tight control of costs and, as announced on 20 September 2005, we anticipate around 3% traffic growth for our UK airports this year.”
(KMcA/SP)
The cuts, which would focus on back office staff and management, are expected to result in savings of £45 million, the airports operator said.
The announcement came as BAA reported an increase of 9.6% in first-half operating profits, rising to £412 million.
Passenger traffic at BAA’s airports, including Heathrow, Gatwick, Stansted and Naples, increased by 2.5% on last year.
Revenue also increased to £1.17 billion, boosted by an increase in retail sales at airport shops of 3.8%, taking the total to £324 million.
Mike Clasper, BAA’s Chief Executive, said that the firm had achieved the rise in profits, despite a slowdown in the UK economy and the effects of the July 7 bombings and the Gate Gourmet dispute at Heathrow.
Mr Clasper said: “We remain confident of delivering a good retail performance maintaining tight control of costs and, as announced on 20 September 2005, we anticipate around 3% traffic growth for our UK airports this year.”
(KMcA/SP)
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