Heathrow passenger growth at 5 year high after record 2017
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%) while retaining its position as Europe’s top-rated major airport for the third year running, results released today show.
Heathrow also continues to deliver for UK trade with a 10.2% 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% and Adjusted EBITDA of £1,760 million up 4.6% reflecting lower operating costs and strong retail growth while passenger charges decreased by 2.0%
Significant progress on expansion
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.
Heathrow CEO John Holland-Kaye welcomed the results.
“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,” Holland-Kaye said.
“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.”
Over £1.0 billion in debt financing has also been completed, enhancing resilience and simplifying Heathrow’s debt financing arrangements.