BAA is the world's leading airport company. We operate our airports in a way that seeks to meet the needs of passengers and airlines while at the same time providing an appropriate return on investment.

We are regulated on prices by the Civil Aviation Authority (CAA) and the Competition Commission and by the Government and the CAA on all aspects of safety and security. We have a clear accountability to both public duty as well as to our passengers and our shareholders. BAA is owned by ADI Limited, a consortium led by Grupo Ferrovial, and also including Caisse de depot et placement du Quebec and GIC Special Investments.

We know that BAA is, and must be, a responsible custodian and developer of public assets, a good employer, a co-operative partner with government, an equitable partner to airlines, and a good neighbour in the communities where our airports are located, as well as an excellent business.

BAA's three London airports, Heathrow, Gatwick and Stansted, have helped to make London one of the world's best connected cities and Heathrow is Europe's hub airport of choice. This is vital to the UK's economic success, through the growth of high-value trade in manufacturing and services.

In Scotland we have transformed connections to all the major cities, Edinburgh, Aberdeen and Glasgow. And in Southampton we have developed a very successful regional airport.

Our UK airports have been the catalyst for the growth of Europe's most dynamic low-cost aviation industry, which has made the social and cultural benefits of aviation open to everyone.