Heathrow sees record 2017

LLB Reporter

Source: ©Photoshot

New figures show

Heathrow grew at its fastest rate in five years in 2017, helping Britain’s economy to thrive by welcoming a record 78 million passengers (+3.1 per cent) while retaining its position as Europe’s top-rated major airport for the third year running.

Heathrow continues to deliver for the UK with a 10.2 per cent increase in cargo volumes promoting more British trade growth, support for British jobs with close to £700 million invested in the airport over the year and new services to Portland and Santiago.

Strong financial performance underpins Heathrow’s expansion plans, with revenues of £2,884 million up 2.7 per cent and Adjusted EBITDA of £1,760 million up 4.6 per cent reflecting lower operating costs and strong retail growth while passenger charges decreased by 2.0 per cent.

Over £1.0 billion in debt financing completed, enhancing resilience and simplifying Heathrow’s debt financing arrangements.

Significant progress on expanding Heathrow, with the airport’s first planning consultation underway, a shortlist of logistics hubs around Britain to help build it, the government committing to a vote in Parliament this summer and the CAA progressing the expansion regulatory framework.

John Holland-Kaye, Chief Executive Officer of Heathrow, said:

“Heathrow had a fantastic 2017 – welcoming a record 78 million passengers, giving our best service ever and offering better value for our passengers with lower airport charges.

But while we are squeezing out small bits of growth, our rivals in France and Germany are overtaking us – for Britain to thrive post-Brexit, the Government needs to crack on with Heathrow expansion as quickly as possible with a vote in Parliament before the summer.”

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