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Heathrow Airport halves losses

Fiscal Year 2022 financial reporting

The management of Heathrow airport has communicated financial data for the 2022 fiscal year. The positive figure that catches the eye is the halving of adjusted losses, before tax: equal to 684 million pounds, down compared to 1.27 billion of the previous year. This is a performance that benefits from the surge in demand for travel and new routes, after the end of the restrictions imposed by the pandemic.

"We welcome the announcement by British Airways and Virgin Atlantic that they are restarting ticket sales to China, once again reopening a key market for British exports", the airport operator's CEO said in recent days, the outgoing John Holland-Kaye, who has announced he is stepping down from his role after nine years.

That of 2022 is a result of a recovery trend in the global aviation industry. In fact, the number of annual passengers has tripled to 66 million. However, a balanced budget is far away. Therefore from Heathrow they let it be known that in 2023 they will not pay dividends to shareholders. A move that aims to ensure a full financial recovery by the end of the year. For this reason it has asked the British Civil Aviation Authority (CAA) to increase airport fees to finance further investments.

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AVIONEWS - World Aeronautical Press Agency