Heathrow Upgrades Annual Passenger Forecast

Heathrow has raised its annual passenger forecast to 82.4 million in anticipation of a record-breaking summer.

Even in the event that “unnecessary industrial action” occurs, the London hub assured that it has a “robust” operating strategy in place to keep the airport working efficiently.

After documenting a record throughput of 18.5 million passengers in the first quarter, up nearly 10% year over year, Heathrow predicted the biggest summer holiday on record.

In contrast to a loss of £139 million during the same period the previous year, this led to a pre-tax profit of £83 million for the three months ending on March 31.

“The strong performance during what is traditionally a quieter period of the year was in part driven by growth on key business routes like Delhi and Mumbai, strong North American traffic and surging East Asian demand growing 40% versus Q1 2023,” Heathrow said.

A £1 billion next-generation security program “continues apace” with the installation of 146 lanes exist throughout the airport.

Additionally, replacement work on the luggage system at Terminal 2 has begun.

Soon, work will begin on a “once-in-a-decade” project to resurface both runways without interfering with airport operations.

“These improvements will help enhance the service and resilience of the UK’s hub airport,” Heathrow added.

Airport managers have cautioned, though, that the UK’s growth and competitiveness are being hampered by present government policies.

“Ministers should rethink anti-growth policies like the ‘tourist tax’ that discourage international visitors from spending in the UK; and unnecessary travel visas for transiting passengers that risk the UK’s global connectivity and Heathrow’s hub status.

“A supportive policy environment for aviation would deliver a much-needed economic boost by encouraging people to visit, spend and do business here in the UK.”

In an interview, Javier Echave, Chief Financial Officer at Heathrow, hinted at the possibility of bringing plans for a third runway back to life.

In a statement issued by the airport, he said, “It has been a successful start to the year thanks to colleagues delivering a consistent, reliable service to our passengers.”

As part of an executive team-wide reorganisation of responsibilities, Echave will take over as chief operating officer on April 26 and Ross Baker as chief customer officer on May 1.

“As I close the chapter on eight years as CFO, I’m proud that Heathrow is on a strong financial footing with a clear flight path ahead,” Echave added.