HEATHROW AIRPORT SWINGS TO £189M PROFIT AFTER RECORD-BREAKING START TO YEAR

Heathrow Airport posted pre-tax profits of £189million for the first quarter after it reported its busiest ever start to the year.

It said the group enjoyed a record-breaking quarter, with passenger numbers up 9.5% to 18.5 million. The stellar trading figures for the three months to March 31 – traditionally a quiet season for the sector – compare against losses of £60 million a year ago.

The group has lifted its outlook for full-year passenger numbers as it expects busiest ever summer holiday season in 2024, with 82.4 million people now expected to pass through the airport. The group insisted it had a "robust operating plan in place to keep the airport running smoothly" as it faces the threat of "unnecessary industrial action".

Trade union Unite said earlier this week that hundreds of workers at Heathrow Airport will strike in a dispute over outsourcing of jobs. Unite said around 800 of its members will launch a week of strikes from May 7-13.

The union said workers in passenger services who assist travellers to catch connecting flights, trolley operations, and security guards will have their jobs outsourced by June. Heathrow has said there would be no job losses due to the overhaul of operations and was continuing talks with Unite over those affected by the move.

The group has called on the Government to reconsider what it labels "rethink anti-growth" policies, including the tourist tax. It argues that abolishing VAT-free shopping for tourists only acts to "discourage international visitors from spending in the UK".

Moreover, it claims that "unnecessary" travel visas for passengers just passing through could jeopardise the UK's global connectivity and Heathrow's status as a major hub. "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," the group said.

In addition to policy commentary, the group announced some significant changes within its boardroom. Javier Echave is set to move from his role as chief financial officer to become the chief operating officer starting April 26, while Ross Baker will step into the position of chief customer officer on May 1.

Mr Echave said: "As I close the chapter on eight years as CFO, I'm proud that Heathrow is on a strong financial footing with a clear flightpath ahead. On the horizon is Heathrow's busiest summer yet with more passengers and destinations served than ever before. We're ready to continue delivering."

2024-04-24T11:39:39Z dg43tfdfdgfd