Higher charges helped airports operator BAA lift profits 28% in the first three months of 2009 despite a 10% fall in passengers at its London airports, the firm said today.
Its figures showed that 24.8 million passengers used Gatwick, Heathrow and Stansted airports - nearly three million fewer than a year earlier - due to the impact of recession and the worst snowfall for 18 years.
Despite the drop in numbers, revenues and profits actually rose, thanks mainly to the higher airport charging regime at Heathrow and Gatwick which came into force a year ago.
Retail income from the group's airport shops was also 'robust' as overall revenues rose 16% to £522m sterling, while underlying earnings were 28% higher at £185.8m.
Chief executive Colin Matthews said factors such as this year's later Easter and 2008's extra leap year day also hit traffic - along with February's heavy snow which crippled much of the country.
But he added that the decline was in line with expectations given the tough economic conditions.
'The rest of the year will be difficult and will present more challenges but our focus remains on raising service standards and maximising efficiency,' he said.
