BAA, the largest operator of airports in the UK, said on Monday its pre-tax losses had widened last year due in part to a loss of £277.3m from the sale of Gatwick.The loss on the sale helped push pre-tax losses at BAA, which is owned by a consortium led by Spanish group Ferrovial, from £324.2m to £821.9m.
Net debt fell 9 per cent to £8.6bn after a £500m equity injection in November from its main shareholders, including Ferrovial, GIC Special Investments (the private equity arm of the Government of Singapore Investment Corporation) and the state pension fund of Quebec. Full Story
