UK plans to change the financial regulation of airports will create extra uncertainties for investors and increase the costs of investments, British airports operator BAA said Monday.

The company, owned by Spanish construction firm Ferrovial, said its lenders had criticized the plans to introduce a "special insolvency regime" for large airports to ensure they stay open even if the operator goes bust.

"Creditors have indicated that certain of the reforms would... adversely affect their existing rights and materially shift the balance of risk and reward from the basis upon which they invested," BAA said in a statement.

Last month, BAA said it would appeal an order by competition regulators to sell three of the airports it owns, including Gatwick and Stansted in London.

BAA said it agreed with the government's objective of keeping airports open and it had worked with the Association of British Insurers (ABI) to devise an alternative scheme in case an operator encountered financial difficulties.

BAA's comments were in response to a government consultation to update the airport sector's economic regulation, a process launched in March and which closed on Friday.