Heathrow eyes final expansion approval as growth continues

Heathrow eyes final expansion approval as growth continues

Heathrow grew at its fastest rate in five years in 2017, welcoming a record 78 million passengers, or 3.1 per cent more than the previous year
The airport also continues to deliver for the UK, with a 10.2 per cent increase in cargo volumes.

Close to £700 million was invested in the airport over the year, while services to Portland and Santiago were launched.

John Holland-Kaye, chief executive of Heathrow, said: “Heathrow had a fantastic 2017 - welcoming a record 78 million passengers, giving our best service ever and offering better value for our passengers with lower airport charges.

“But while we are squeezing out small bits of growth, our rivals in France and Germany are overtaking us – for Britain to thrive post-Brexit, the government needs to crack on with Heathrow expansion as quickly as possible with a vote in parliament before the summer.”

Strong financial performance underpins Heathrow’s expansion plans, with revenues of £2,884 million in 2017, up 2.7 per cent on 2016.

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The airport reported an adjusted EBITDA of £1,760 million, up 4.6 per cent, reflecting lower operating costs and strong retail growth.

Passenger charges decreased by two per cent.

Significant progress on expanding Heathrow has recently been made, with the airport’s first planning consultation underway, a shortlist of logistics hubs around Britain to help build it completed, the government committing to a vote in parliament this summer, and the CAA progressing the expansion regulatory framework.