Debt-laden British airports operator BAA said GBP1.2 billion pounds (USD$1.97 billion) in cash raised from the sale of London's Gatwick airport will enable it to cover all significant financing commitments until 2011.

The operator, majority-owned by Spain's Ferrovial, said in a trading statement that proceeds from the GBP1.51 billion sale agreed earlier this month would cover in full GBP1.0 billion of debt maturing next March.

Net debt at September 30 was GBP9.771 billion, up from GBP9.426 billion at the end of 2008, and the firm was operating comfortably within its financial ratios.

It said nine months adjusted earnings before interest tax, depreciation and amortization (EBITDA) rose 16.8 percent to GBP804.6 million. Operating costs fell 3.3 percent and one-off pretax charges totaled GBP537 billion.

Its outlook for 2009 remained in line with expectations.

Ferrovial on Tuesday denied speculation it was about to make a capital increase.