Heathrow sets all time records with bumper 2017 half year results

Heathrow

By Heathrow

Published 27th July 2017

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More passengers and cargo have passed through Heathrow in the first six months of 2017 than ever before in the same period, results released today reveal.

In total, 37.1 million passengers passed through the UK’s hub airport between 1 January and 30 June, marking a 3.9% increase year-on-ear.

New Flybe services between Heathrow and Scotland, additional long-haul destinations like Portland and New Orleans, and strong passenger growth to emerging markets in Asia and South America, all contributed to the record passenger numbers.

Significantly Heathrow was also able to deliver record punctuality, service and baggage connection scores while the numbers increased.

Cargo growth surge, revenue up…

Heathrow also recorded booming activity in cargo volumes with 0.82 million tonnes of goods travelling via the airport, an increase of 9.1% on the same period in 2016.

Passenger and cargo growth, alongside greater operational efficiencies and retail momentum, contributed to a strong financial performance for the company with revenue up 4.1% to £1,374 million and Adjusted EBITDA up 6.9% to £835 million.

Over £1 billion in debt financing was also completed during the 6-month period, enhancing resilience and simplifying Heathrow’s debt financing arrangements.

New partnership with TfL, while Heathrow expansion project progresses

Another highlight from the first half of 2017 has been the announcement of a new partnership with Transport for London (TfL) and the Department of Transport (DfT) that will see The Elizabeth Line (Crossrail) now serve all terminals from 2019.

Under the plan, services to Heathrow will increase from 18 trains per hour today to at least 22 trains per hour in 2019, of which six will be on the Elizabeth line. A train will depart Central London to Heathrow on average every two-and-a-half minutes – including two Elizabeth line trains per hour to Terminal 5.

In separate news, Heathrow is making good progress, working with airlines, towards meeting the Government’s challenge to deliver expansion with airport charges close to current levels.

John Holland-Kaye, Chief Executive Officer of Heathrow, welcomed the results, saying, “Heathrow’s strong start to 2017 is a boon for Britain – our passengers are getting better value and service, more British trade is flying high on new trading links and our expansion plans are on track.”

The Government set us the challenge to expand Britain’s hub while keeping airport charges close to current levels. Working with airlines, we are making good progress to meet this challenge whilst delivering all our local commitments and the global connections our country needs.

– Heathrow CEO, John Holland-Kaye

Heathrow

By Heathrow

Published 27th July 2017