Heathrow Airport reports record winter with profits climbing as more passengers travelled through the international travel hub than ever before.
Banishing the Covid downturn once and for all, the three months to 31 March 2024 saw Heathrow airport achieve a remarkable turnaround in profitability, going from a loss of £139m in 2023 to an adjusted profit before taxation figure of £83m in 2023.
Heathrow has attributed the improvement to its passenger numbers and financials in what is traditionally a quieter period of the year, to the growth in popularity of business routes such as Delhi and Mumbai which had since a marked upswing since the lows during Covid.
Stronger North American traffic and developing East Asian demand having all risen compared to Q1 in 2023 assisted the resurgence which saw overall passenger numbers for Q1, increase from 16.9m to 18.5m when compared to the same period last year.
Heathrow’s Chief financial officer Javier Echave, who became chief operating officer at the end of Q1, 2024 said: “It has been a successful start to the year thanks to colleagues delivering a consistent, reliable service to our passengers.“
“As I close the chapter on eight years as CFO, I’m proud that Heathrow is on a strong financial footing with a clear flightpath ahead. On the horizon is Heathrow’s busiest summer yet with more passengers and destinations served than ever before. We’re ready to continue delivering.”
With a £1bn programme of airport improvements have begun, which when complete will see vast improvements to T2 with state-of-the-art baggage and security systems installed, the business hopes that recent headlines of “Heathrow Airport reports record winter” will see more of the same in the coming years.
However, with a protracted and continued industrial dispute with Border Force workers, poor tunnel ventilation on the new Elizabeth Line seeing suspension of services to Terminals 2&3 and Terminal 5 all making recent headlines, Heathrow will have its work cut out to remain TimeOuts London airport of choice. Although Heathrow is 21st in the TimeOuts Best Airport on the Planet rankings, it does outperform London’s City, Gatwick and Stanstead airports.
In news that surprised exactly no single human being whom has ever used Manchester airport, taking the accolade as the UK’s worst airport terminal, was a joint first and second place by (you guessed) Manchester Airport, which saw Manchester T3 named the worst UK airport terminal, closely followed by Manchester T2.
In the ongoing Liverpool – Manchester rivalry, that Liverpool was voted the best perhaps “means more” to some than others..
IN Other News – Liverpool & Manchester “Means More” Banter
As Man City sealed the title on the final day of the Premier League through a 3-1 victory over West Ham last weekend, which in doing so earned an impressive fourth consecutive triumph, Man City‘s social media team still found themselves preoccupied by their rivals, taking to Twitter to joke ‘This Means Four’.
The Man City reference to Liverpool did not go unnoticed with Linda Pizzuti (wife of Liverpool’s owner John Henry) – taking to Instagram to respond.
“A sincere congratulations to Man City – Premier League champions!” she wrote, with a screenshot of their ‘This Means Four’ post.
“So much respect for this tremendous achievement. Thanks for thinking of us on your special day.”. Ouch.
The spat, albeit in good nature stems from Liverpool player Trent Alexander-Arnold’s comments which seemed to suggest that [when comparing the financial resources of both clubs and their respective histories] that winning trophies means more to Liverpool fans.
One thing we can all be sure of is that Manchester Airport will not being bragging any time soon, that their TimeOut’s Worst Airport win, “means more’.
SIMILAR LONDON BUSINESS NEWS – Premier Foods financials continues year on year growth / Heathrow Airport reports record winter / London still losing pubs and restaurants post-pandemic / Travelodge 85th London hotel Underway / London’s tourist economy roaring back to life
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