British airport group BAA reported record number of passengers using its Heathrow airport last year, with company losses narrowing.
Passenger numbers leapt 5% to a record high of 69.4m in 2011, while losses slimmed down from £316.6m to £255.8m for the twelve months ended December 31st.
Elsewhere passenger numbers at Stansted dropped by 2.2% to 18m. However, the total number of passengers at its airports grew by 3.7% to 87.4m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The firm, which is 49.9% owned by Spanish infrastructure firm Ferrovial, said that growth at Heathrow was "particularly strong".
"Of Heathrow's major markets, European traffic showed the most significant year-on-year growth, increasing 7.6% to 28.5m passengers."
Heathrow used 99.2% of its permitted annual arrivals and departures in 2011, a record high. However, this meant that the firm has been unable to meet demand for news routes to growing markets such as Asia.
NR
-
-
October’s NS&I Premium Bond winners revealed - have you scooped £1 million?
Two lucky NS&I Premium Bond winners are now millionaires this October. Find out here you are one of them
-
Nationwide: House prices fall across the UK at fastest pace since 2009
House prices drop 5.3% on the year as high borrowing costs hit prospective buyers.
