The Worlds Leading Airport Company
BAA is a leading airport operator. We operate our airports in a way that seeks to meet the needs of passengers and airlines while at the same time providing an appropriate return on investment.
We are regulated on prices by the Civil Aviation Authority (CAA) and the Competition Commission and by the Government and the CAA on all aspects of safety and security. We have a clear accountability to both public duty as well as to our passengers and our shareholders. BAA is owned by ADI Limited, a consortium led by Grupo Ferrovial, and also including Caisse de depot et placement du Quebec and GIC Special Investments.
We know that BAA is, and must be, a responsible custodian and developer of public assets, a good employer, a co-operative partner with government, an equitable partner to airlines, and a good neighbour in the communities where our airports are located, as well as an excellent business.
BAA is a leading airport operator. We operate our airports in a way that seeks to meet the needs of passengers and airlines while at the same time providing an appropriate return on investment.
We are regulated on prices by the Civil Aviation Authority (CAA) and the Competition Commission and by the Government and the CAA on all aspects of safety and security. We have a clear accountability to both public duty as well as to our passengers and our shareholders. BAA is owned by ADI Limited, a consortium led by Grupo Ferrovial, and also including Caisse de depot et placement du Quebec and GIC Special Investments.
We know that BAA is, and must be, a responsible custodian and developer of public assets, a good employer, a co-operative partner with government, an equitable partner to airlines, and a good neighbour in the communities where our airports are located, as well as an excellent business.
The worlds leading Airport company - 21/07/2010
BAA response to Department for Transport Economic Regulation proposals"We are pleased to see the Transport Secretary’s announcement today setting out his approach to reforming the economic regulation of airports. Today's announcement reflects the very constructive consultation process undertaken by the Department for Transport last year and provides clarity on the package of measures that Government will take forward in new legislation to promote both the interests of passengers and investment in Britain's airports. The measures announced today will provide important reassurance for the pension funds and other institutions who are supporting BAA's multi-billion pound modernisation programme for Heathrow."
The new legislation will include:
- a primary duty for the CAA to promote the interests of passengers. The CAA will also be given a supplementary duty to ensure that licence holders are able to finance their activities;
- a minimum credit worthiness requirement for licensed airports;
- ring fencing provisions similar to those in place in other regulated sectors but with initial derogations from some of those provisions (including restrictions on the granting of security to lenders) where the costs of introducing those provisions would exceed their benefits;
- a requirement on the CAA to apply agreed tests when considering the removal of an airport’s derogations and an appeals process that is aligned with the wider licence modification process; and
- a requirement for airports to put in place continuity of service plans.
The Government has also confirmed:
- the earlier decision not to bring in a Special Administration regime; and
- that it will not be making changes to the basis on which the current price caps at Heathrow and Stansted are set.