This page contains information for current and prospective investors in Heathrow and
Gatwick, the two airports in the UK subject to the CAA’s economic
regulation. We aim to maintain a continuous communication with investors,
analysts, investment and corporate bankers, credit rating agencies and any
other interested investor market participants.
subscribe to the CAA SkyWise distribution list here and select “Economic
regulation and enforcement” to receive updates on our publications. You
are welcome to contact Dan Rock or Maggie Kwok at firstname.lastname@example.org
We are currently developing the regulatory framework for
Heathrow (H7). Information that investors will find useful are listed
below, and a complete set of documents relating to the current Heathrow price
control review is available on the
We are making available the regulatory financial model (RFM) that we used to produce the analysis on financeability and affordability presented in CAP 1658. Since the model is in a file format that is not currently compatible with this website the model will be distributed to individuals on request via our file sharing site. If you would like access to the model, please contact Dan Rock (email@example.com) or Maggie Kwok (Maggie.firstname.lastname@example.org).
We intend to continue to use the RFM for assessment of financeability and affordability through the H7 process. We are publishing the RFM to provide transparency around the process and to facilitate consultation on the detail of our modelling approach. The RFM will be further developed as we proceed towards setting the H7 price control and we expect that in that time there may be changes to some of the assumptions as we develop our financeability policy. We invite comment and discussion of our modelling approach to help us to refine the RFM.
We have also published an associated user guide which describes how to operate the model.
The sources used to populate the RFM with data are described in CAP 1658. In summary, base case capital expenditure data was provided by Heathrow and other data are assumptions developed by the CAA in consultation with Heathrow and the airlines.
We are separately developing a model that will be used for the interim price control known as iH7. The RFM models the years of the iH7 period so that, once the iH7 control is set, the RFM can reflect an appropriate opening position at the beginning of H7. The RFM will not be used for setting the iH7 price control.
Questions relating to the model or requests for meetings to discuss detailed modelling points should be addressed to Dan Rock or Maggie Kwok at email@example.com
We have conducted an mid-term review on the current price
control Q6 and an initial consultation on the next price control G7.
Relevant information is available on the Gatwick
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