BAA to seeks funds for expansion

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The Independent Online
BAA to seeks funds for expansion

Sir John Egan, chief executive of BAA, operator of seven UK airports including Heathrow and Gatwick, yesterday gave his strongest indication yet that the group will soon ask shareholders for more cash. Sir John said there would be no rights issue to fund growth of BAA's core business, but said new equity would be raised to fund good deals abroad. BAA, which expects to sign a deal to take over management control of Indianapolis airport next month, yesterday announced a 14 per cent increase in pre- tax profits to pounds 366m. Investment Column, page 26

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