February 18, 2013 / 7:32 AM / 6 years ago

Heathrow profit rises on airline tariffs

An Alitalia passenger jet flies towards Heathrow Airport as it passes over the Wimbledon tennis championships in south west London June 28, 2012. REUTERS/Stefan Wermuth

LONDON (Reuters) - Heathrow Ltd, the British airport operator formerly known as BAA, posted a strong rise in full year profit, largely driven by an increase in the fees it charges airlines.

Ferrovial’s (FER.MC) Heathrow on Monday said its 2012 earnings before interest, tax, depreciation and amortisation rose 11.6 percent to 1.26 billion pounds on revenues 2.46 billion pounds.

The operator has increased airport tariffs by an average of 12.5 percent since April 2011.

The company said passenger traffic at London’s Heathrow, Europe’s busiest airport, rose 0.9 percent to 70 million during the year, while traffic at London Stansted fell 3.2 percent to 17.5 million.

The group last week unveiled a 3 billion pounds five-year investment plan, which could see passengers facing a rise in ticket prices.

Reporting by Rhys Jones, Editing by Brenda Goh

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