Busiest ever first half of the year at Heathrow Airport

posted on 24th July 2018 by Justin Burns
Busiest ever first half of the year at Heathrow Airport

Heathrow Airport had its busiest ever first half of the year in 2018 with strong financial growth and a solid uplift in freight tonnage.

The UK hub was given approval by Parliament for a third runway in the period and handled 841,449 tonnes of cargo, up 2.2 per cent on the same period in 2017, which was driven by four new long-haul belly connections to China.

In the first six months, revenues were up 2.3 per cent to £1,405 million and increased adjusted EBITDA by 1.6 per cent to £848 million. Pre-tax profit fell 6.9 per cent to £95 million from £102 million in the first half of last year.

Heathrow said operating costs increasing slightly after investments to boost resilience, security and service.

The airport said there is strong appetite to invest in Heathrow as nearly £1 billion in global financing was raised in 2018 to invest in the UK’s hub airport, “demonstrating Heathrow’s attractiveness to global investors”.

Expansion is well underway, and Heathrow is now reviewing over 100 fresh ideas from UK businesses and entrepreneurs to help deliver the project more innovatively, sustainably and affordably.

Heathrow chief executive officer, John Holland-Kaye said 2018 will be a year for the record books, adding: “We’re proud to be the front door of a nation flying high, and we’ll continue delivering a great passenger service and the global trading links that will keep the UK thriving for decades to come.”