The Commission's report makes recommendations to the Civil Aviation Authority on the maximum level of airport charges that can be levied at Heathrow and Gatwick airports for the five year period 2008-2013, as well as examining whether either company operated against the public interest in the charges they levied during the period 2002-2007 or through other operational activities. On the basis of the assumptions set out in the report, the Commission recommends i) a maximum opening yield of £10.19 per passenger at Heathrow with charges subsequently increasing at no more than RPI +7.5; and ii) a maximum opening yield of £5.50 per passenger at Gatwick with charges subsequently increasing at no more than RPI -0.5. The recommended levels are significantly below those put forward by BAA, although they are above those proposed by the airlines. The Commission argues that these charges will enable BAA to implement its plans to improve facilities and levels of service at both airports for the benefits of airlines, passengers and other airport users.

Placing the airport business within a conceptual framework, the author examines the major global issues that confront it and offers solutions to the economic and financial difficulties likely to arise in the future.

BAA Limited owns and operates seven UK airports: Heathrow, Gatwick, Stansted, Southampton, Glasgow, Edinburgh and Aberdeen. They handle nearly 150 million passengers a year, and are a vital part of the country's transport infrastructure. In the light of the Office of Fair Trading's referral of BAA to the Competition Commission, to investigate whether BAA's market position was limiting competition in the UK aviation sector, the Committee set up its own inquiry. It particularly wanted to consider: the regulatory framework; the quality of service provided; the size and quality of investment; any consequences following the acquisition of BAA by Ferrovial; the implications of further runway and terminal capacity; how more competition could be introduced into the market. The Committee concludes that the drawbacks of common ownership outweigh the advantages, and identifies a problem with service quality. It believes that increased competition is possible, and hopes the Competition Commission will ensure a healthy, competitive airport sector for the future.

The yearbook carries an introductory section about the BRC, with reports and commentaries from senior personnel and advisory groups. The bulk of the yearbook is made up of sections on: retail overview; retail environment; retail management; responsible retailing; payment in retail; virtual retail; retail crime; the future of retailing; and a membership directory.