Robust start to financial year at London Heathrow

Heathrow Airport in London has reported a robust start to the financial year.

Lower operating costs per passenger and higher retail spending resulted in strong revenue growth of 3.8 per cent, to £680 million, and increased adjusted EBITDA by 5.2 per cent to £402 million.

The figures are underpinned by a successful financing strategy that raised over £350 million in global markets.

As is usual with Heathrow, expansion plans were grinding forward.

As the airport begins to design its preferred masterplan, the airport called for the public to submit innovative ideas on how to further improve the project.

The move follows the lukewarm backing of the north-west 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 from Heathrow showing 75 per cent of members back the project.

In total some 17.7 million passengers used the airport in the first three months of the year, up from 17.2 million in the same period last year.

John Holland-Kaye, chief executive of Heathrow, 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.”

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