U. K. airports operator BAA reported a jump in its net loss for the full year mainly due to an increase in pension-scheme deficits and losses from the sale of London's Gatwick Airport.

BAA, reported net loss of £684 million for the fiscal year 2009 compared with a loss of £201.1 million for the fiscal year 2008. The Loss was broaden due to £217.8 million exceptional charge for expanding pension scheme deficits, and a £277.3 million loss on the sale of Gatwick Airport and also recorded a drop of 3.8% in the passenger traffic.

Revenue of the company, increased by 8.3% to £1.98 billion from £1.83 billion, strengthens by increased airport tariffs and strong retail performance.

According to BAA Chief Executive Colin Matthews, "Our financial performance remains resilient, especially at Heathrow, which benefits from its position as the UK's only hub airport, higher retail spending by passengers and strong cost control."

Company plans to invest more than £1 billion this year to upgrade its airports and expects focus on the improving efficiency as year 2010 expected to be economic challenging for the industry as a whole.