Most likely hit by the drop in the number of passengers and criticism for this month's sale of the Gatwick airport, Britain's airports operator BAA has revealed losses once again in its earnings report. As shared by BAA in a statement, "Losses widened from ?523m pre-tax in the same period last year after one-off charges of ?670m".

The losses are reportedly related to the figures posted by BAA's three major airports - Heathrow, Gatwick and Stansted. The losses recorded stood firm at ?784.7 Million for three months up-to September, a figure which is substantially up by last year's posting of ?519.5 Million for the same period.

Chief Executive Colin Matthews, optimistic that this is just a temporary phase as things will improve soon, shared, "The accounting losses we are reporting today reflect non-cash exceptional charges and do not reflect the strong underlying performance of the business".

Supporting Colin's optimism is the fact that despite a drop in the number of passengers, BAA's underlying earnings did rise by 16.08%. The operator has also made definite gains via strict budgeting and higher spending on retail.