BAA losing up to £6m a day in ash crisis

AIRPORTS operator BAA has said that the flight ban sparked by the volcanic ash cloud is costing it between £5m and £6m a day.

The operator runs six airports in the UK, including Heathrow and Stansted.

A statement said: "BAA entered this period of flight suspensions with sufficient available funds to mitigate the closure of British air space for a considerable amount of time.

"Right now, we don't think the airports' closure will have a material impact on our regulated airports' abilities to finance their activities."

Airline BA has asked for compensation from the European Union and british government for its losses – estimated at around the same rate as BAA’s – over the grounding of flights.