Heathrow Snow Chaos To Cost BAA GBP£40 Mln

December 28, 2010

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UK airports operator BAA is expecting at least GBP£40 million (USD$62 million) in lost trading as a result of disruption at Heathrow airport this month after heavy snowfall, the Financial Times reported on Tuesday.

The FT, which cited sources familiar with the matter, said BAA and its investors were expecting a similar impact to the GBP£40 million lost earlier this year when a cloud of volcanic ash closed much of Europe's airspace.

BAA said it had yet to make an official estimate of the financial impact caused by the problems at Heathrow, which led to the closure of runways and chaos as passengers sought information on cancelled flights.

BAA is owned by Spanish company Ferrovial.

(Reuters)