## Heathrow Airport: A Gateway to UK Growth and Global Connections
Heathrow Airport, a vital component of the UK’s aviation landscape, is poised to play a key role in driving economic growth and cementing the nation’s position on the global stage. With a coordinated approach from the government, Heathrow can unlock its full potential, supporting hundreds of thousands of jobs and facilitating £186 billion in trade through exports.
The airport’s recent performance underscores its significance. This summer witnessed an unprecedented surge in visitors to the UK, fueled by major sporting events and music festivals that attracted millions. Between June and September, Heathrow welcomed a staggering 30.7 million passengers, pushing the total for the first nine months of the year to an impressive 63.1 million. This surge in travel was driven by factors such as the Olympic Games, which attracted European travelers, and a plethora of renowned musical acts that led to a spike in departures.
Heathrow’s busiest day for departures was recorded on July 24th, while September 2nd saw the highest number of arrivals. In response to this sustained demand, the passenger forecast for 2024 has been adjusted to an anticipated 83.8 million travelers.
Beyond passenger numbers, Heathrow boasts a strong financial performance. The airport reported an adjusted profit before tax of £350 million in the first nine months of the year, demonstrating its financial strength and resilience. This solid performance, coupled with expanding passenger numbers, robust credit ratings, and a healthy liquidity position, instills confidence in investors and positions Heathrow for future success.
Heathrow is committed to investing in its future. This year, the airport plans to invest over £1 billion to enhance its infrastructure, improve the passenger experience, and further solidify its position as a leading global hub. While dividends are not projected for 2024, their potential will be contingent upon future financial performance.
As the world’s most connected airport, Heathrow recognizes the importance of supporting British businesses. Through its ‘World of Opportunity’ competition, the airport provides small and medium-sized enterprises (SMEs) from every region of the UK with the chance to enhance their export capabilities. This initiative offers grants to fund trade missions and expand the international presence of these businesses, effectively promoting the best of British innovation and quality.
Heathrow CEO Thomas Woldbye emphasized the airport’s commitment to delivering growth and investment for the entire country. “This summer has tested our colleagues, infrastructure and airlines to cooperate harder than ever before, with record numbers of passengers travelling through the busiest two runway airport in the world. We have risen to this challenge, delivering excellent service with over 91% of passengers waiting at security for less than 5 minutes.” He went on to highlight the importance of the upcoming Autumn Budget: “The Autumn Budget is a prime opportunity to set the aviation industry up for long term success. Backing British SAF through a revenue certainty mechanism and committing to joined up policy making that makes sense for aviation will supercharge Heathrow’s potential to deliver growth and investment for the whole of the country.”
Heathrow’s success story is a testament to its commitment to innovation, passenger satisfaction, and supporting the UK economy. With the right government support, Heathrow has the potential to become a catalyst for growth and prosperity, both within the UK and on the global stage.