Heathrow reaches record results for 2018 first quarter
Passengers and trade flowing through Heathrow soared to record highs in the first quarter of 2018 as Heathrow welcomed over 17.7 million (+3.1%) passengers.
On the back of this passenger performance, lower operating costs per passenger and higher retail spending, Heathrow saw strong revenue growth of 3.8% to £680 million and increased Adjusted EBITDA by 5.2% to £402 million. This was underpinned by a successful financing strategy that raised over £350 million in global markets.
Heathrow also recorded its highest passenger satisfaction score ever with 84% of passengers rating their experience as “very good” or “excellent”. This was supported in Q1 by Heathrow’s investments in winter resilience which kept the UK’s hub open during one of the worst winters in recent years while delivering lower operating costs per passenger.
Along the way, Heathrow has climbed the global airport rankings, coming in as the seventh best airport in the world and retaining the top spot in Western Europe for the fourth year running at the annual Skytrax Awards.
Significantly, Heathrow took home the World’s Best Terminal (Terminal 2 | The Queen’s Terminal) and fourth best (Terminal 5) in the Skytrax Awards too.
John Holland-Kaye, Chief Executive Officer of Heathrow, welcomed the results and said, “We’re delighted that passengers are choosing Heathrow in record numbers – it’s is a strong signal that we’re delivering value for money.”
“We’re within touching distance of Parliament voting on expanding Heathrow and now more than ever we’re committed to developing and delivering a hub airport that Britain can be proud of for generations to come.” – John Holland-Kaye, Heathrow CEO
“We’re within touching distance of Parliament voting on expanding Heathrow and now more than ever we’re committed to developing and delivering a hub airport that Britain can be proud of for generations to come.”
Other highlights from the first quarter
- Phasing out single-use plastics: Heathrow is aiming to lead the aviation industry in cutting single-use plastics, the first step of which is Heathrow’s plan to recycle up to 13.5 million of the single-use coffee cups used at the airport annually. Find out more, here.
- Milestone moment for expansion – As Heathrow begins to design its preferred expansion masterplan, the airport called for the public to submit innovative ideas on how to further improve the project. The move follows the backing of the northwest runway by the Transport Select Committee and thousands of people participating in Heathrow’s first planning consultation. Parliament is expected to vote on expanding Heathrow this summer, with the latest polling showing 75% of MPs back the project. Find out more about the expansion project at www.heathrowexpansion.com .
To read the full results report, click here.