BAA, the owner of London's Heathrow, Stansted and Gatwick Airports revised up its 2009 forecast, to take into account a delayed sale of Gatwick Airport that it now expects to become effective on October 1, Dow Jones reported.
The airport operator, which is a unit of Spanish construction firm Grupo Ferrovial, said it expects earnings before interest, tax, depreciation and amortisation before exceptional costs, or EBITDA, to be US$1.7 billion for the 12 months to December 31, which includes $120.3million from three additional months' contribution from Gatwick.
That is higher than the $1.6 billion it had originally estimated for full year EBITDA, based on selling Gatwick by July 1. |
