Heathrow Airport has reported a triumphant summer season, with 29 million passengers welcomed, bringing the total for the first nine months of the year to 59 million.
The airport has not only managed to maintain high passenger satisfaction levels but has also exceeded those of 2022.
Reclaiming the Crown: The Most Connected Airport Globally
Heathrow has reclaimed its title as “the most connected airport in the world,” enhancing Britain’s growth potential and prosperity. With connections to over 214 destinations and new flights to Peru and Turkmenistan launching this winter season, Heathrow is pivotal in connecting Britain to global growth opportunities.
Multi-Billion Pound Investment Underway
Despite a challenging settlement from the Civil Aviation Authority (CAA), Heathrow is committed to continuing its investment in key upgrades. The transformative security programme is already in progress, and the supplier for the new Terminal 2 baggage system is set to be announced by the end of the year. Over the next three years, the airport also plans to invest over £200 million to reduce its carbon emissions, demonstrating its commitment to sustainability.
Financial Recovery and Strong Balance Sheet
Heathrow has successfully narrowed its losses to £19 million, focusing on managing costs and driving growth within a tight regulatory framework. With historically low gearing levels and a strong balance sheet boasting £4.6 billion of liquidity, the airport is well-positioned to cover all obligations for at least the next 24 months. However, no dividends are forecasted for 2023.
A Call to Action for British Growth
Heathrow urges the Government to back British growth in the upcoming Autumn Statement. The airport advocates for the rapid development of a domestic Sustainable Aviation Fuels industry, the reinstatement of tax-free shopping for Britain’s retailers, and support for Southern and Western rail links to Heathrow. These initiatives are crucial for increasing connectivity and ensuring that Britain remains competitive in the global race for growth and job creation.
A New Chapter with CEO Thomas Woldbye
Heathrow bids farewell to transformative CEO John Holland-Kaye after nine years of dedicated service and welcomes Thomas Woldbye as the new CEO. Woldbye is committed to building on the airport’s successes, connecting Britain to global growth, achieving net zero by 2050, and upgrading the airport’s facilities for customers.
“Heathrow is a national treasure, and our best days are still ahead,” said CEO Thomas Woldbye. “With a clear plan for connecting Britain to global growth and a sustainable future, I am excited to work with Team Heathrow to build a stronger hub for Britain in the coming decade.”