Stansted airport has seen a £5.3m increase in its profits, BAA has announced.

The airport operator has announced its end-of-year figures for March 2002 to March 2003.

BAA said operating profits at Stansted had risen to £43.1m, representing an increase of 14 per cent.

The overall number of air travellers was up 19 per cent to 16.7m, with passenger numbers on domestic flights up by 20 per cent, and international numbers increasing 18 per cent.

Stansted's total income was £14.9m, 12 per cent ahead of the previous years.

The local community got to share in the airport's success, with around £200,000 allocated to community projects, and over £500,000 spent on public transport.

The 10,000 employees at the airport have a combined annual spending power of some £410m in wages and expenditure, benefiting the local economy, said a Stansted spokesman.

One of the biggest developments of the year was Uttlesford Council giving the airport planning permission to increase its passenger capacity to 25m without calling for a public inquiry.

As part of the 25m approval the airport agreed to undertake improvements to its rail and road infrastructure, including the M11 slip roads project.

Expenditure of £787m is planned over the next 11 years as part of the BAA capital investment programme.

Published Friday, June 13, 2003