- Business
- Childbirth & Education
- Legal Formalities
- Motoring
- Other
- Pensions & Benefits
- Property & Accommodation
- Taxes
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Join us for Tea on the Terrace
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
- Liva & Laia : 15th November
Debt-laden airports operator BAA said 1.2 billion pounds in cash raised from the sale of Gatwick airport will enable it to cover all significant financing commitments through to 2011.
The operator, majority-owned by Spain's Ferrovial, said in a trading statement that proceeds from the 1.51 billion pound sale agreed earlier this month would cover in full 1.0 billion of debt maturing next March.
Net debt at September 30 was 9.771 billion pounds, up from 9.426 billion at the end of 2008, and the firm was operating comfortably within its financial ratios.
It said nine months adjusted earnings before interest tax, depreciation and amortisation (EBITDA) rose 16.8 percent to 804.6 million pounds. Operating costs fell 3.3 percent and one-off pretax charges totalled 537 billion pounds.
Its outlook for 2009 remained in line with expectations.
Ferrovial Tuesday denied speculation it was about to make a capital hike.