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Stansted Gains Government Backing to Double Capacity.

LONDON--(BUSINESS WIRE)--June 16, 1999--

BAA plc, the UK-based airport company, announced that the Government today moved to eliminate the last obstacle to doubling the capacity of Stansted Airport, when the Transport Minister recommended to Parliament a major increase in passenger movements for the airport.

Glenda Jackson MP, Minister for Transport in London, announced that the Government was recommending increasing the permitted level of passenger air transport movements (PATMs) to 185,000 annually. This will replace the current limit of 120,000 PATMs and represents an increase from 8 million passengers a year to around 15 million.

The recommendation follows extensive public consultation by the Department of the Environment, Transport and the Regions (DETR).

Sir John Egan, BAA's chief executive confirmed that:

"It is part of our strategy to spread the growing demand for air travel more equally across the three South East airports - Gatwick, Heathrow and Stansted. BAA invests over (pound)1 million per day in this country's airport infrastructure and plans to invest (pound)200 million to extend the current Stansted terminal to meet demand."

London Stansted grew 35.4% in the last financial year and BAA plans to start building early next year, creating 1,000 or so jobs every year as the airport grows. The extension will double the size of the current terminal, in keeping with the original Sir Norman Foster design.

BAA ordinary shares trade on the London Stock Exchange; prices may be accessed on Bloomberg under the symbol BAA LN, on the Reuter Equities 2000 Service under BAA.L and on Quotron under BAANU.EU. BAA ADRs, each equal to one ordinary share, appear on the pink sheets under BAAPY. Additional information is available on BAA's home page: http://www.baa.co.uk.

Notes:

- A PATM is the take-off or landing of a commercial passenger

aircraft and London Stansted is the only UK airport to have such a

limit set for it by Parliament.

- The limit was originally put in place to ensure the airport did

not grow beyond about 8 million passengers a year to give the

local planning authorities time to make provision for the airport

at about 15 million passengers per annum, which has been

accomplished.

- Detailed planning consent to develop London Stansted's terminal to

handle a capacity of about 15 million passengers a year has

already been granted by Uttlesford District Council.
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Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:4EUUK
Date:Jun 17, 1999
Words:394
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