Edinburgh revenues rise despite credit crunch

Since the start of the credit crunch, the bad news and negative announcements have seemed endless. However, last week, Edinburgh Airport had good reason to be positive despite the increasing financial gloom and uncertainty, as it announced that revenues at the airport have continued to increase over recent months. BAA, the major airport operator, revealed that income resulting from aeronautical charges at the Scottish airport increased by approximately two per cent in the nine months to the end of September.

BAA was able to reveal this good news despite passenger numbers declining drastically recently, with consumers feeling the need to tighten the purse strings and stay at home rather than travel abroad. Passenger numbers fell by almost one and a half per cent but Colin Matthews, the chief executive of BAA, believes that the operator has “delivered a resilient performance with results in line with forecasts”.

Furthermore, BAA is aware that the coming months are going to be tough for the airline industry as a direct result of the credit crunch but the operator is still set to try to improve customer satisfaction and improve the operational side of its business. BAA has revealed that it intends to fight to keep Edinburgh Airport, as well as Glasgow Airport, despite the recent findings of a report by the Competition Commission. Their report revealed that BAA should sell either Edinburgh or Glasgow but whilst the operator has announced plans to sell London Gatwick Airport, it is not keen to relinquish control of the Scottish airports.

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