BAA has won bondholders’ backing for changes that the highly geared UK airports operator hopes will help it complete a £9bn refinancing within the next few weeks.

BAA said Wednesday it had “secured overwhelming support” for the plan, which involves “migrating” about £4.8bn in bonds to a new ring-fenced structure backed by the regulated assets of London’s Heathrow, Gatwick and Stansted airports and the Heathrow Express rail service.