Airlines 'not interested' in Stansted and Gatwick, says BAA chief financial officer José Leo José Leo, chief financial officer of BAA, said there is still spare capacity in the South East. Stansted, for example, is only currently half full. Mr Leo made a fresh plea for a "healthy debate" on aviation policy - covering all options - as BAA yon Wednesday posted a pre-tax loss of £231.3m for the first quarter. The airports operator said the result, which was worse than the £211.5m loss incurred during the same period last year, was largely down to a "non-cash" charge related to its pension scheme. At the end of March, the pension scheme was running at a deficit of £103.3m. Passenger numbers at Heathrow grew 4.4pc to 15.7m, breaking a fresh record for the first quarter. The decline at Stansted continued apace as passenger numbers dropped by 5.3pc. Mr Leo said he had "every confidence" Stansted would return to growth when market conditions improve. Net debt rose 3.6pc to £10.8bn.