News, Culture & Society

Heathrow issues profit warning after pandemic losses top £4bn 

Heathrow issues profit warning after pandemic losses top £4bn as it warns demand remains ‘very volatile’

Heathrow has warned it will not return to profit this year after pandemic losses topped £4billion.

In its first quarter results, the west London airport said ‘demand remains very volatile’ despite enjoying a surge in last-minute Easter getaway bookings.

Heathrow’s revenues climbed 213 per cent from £165million last year to £516million in the first three months of 2022.

Fragile recovery: In its first quarter results, Heathrow said ‘demand remains very volatile’ despite enjoying a surge in last-minute Easter getaway bookings

And passenger forecasts were met after 9.7million people travelled through its airport in January, February and March.

But the airport said it has lost £4bn since the start of the Covid pandemic.

Heathrow said it expects to see 52.8million passengers pass through its airport this year – up from a previous forecast of 45.5million. 

More than 95 per cent of passengers passed through security within five minutes during the Easter getaway, the airport added.

***
Read more at DailyMail.co.uk