Losses at Heathrow Airport from Covid pandemic hit £ 3.4bn – .

Losses at Heathrow Airport from Covid pandemic hit £ 3.4bn – .

Heathrow’s losses from the Covid-19 pandemic have reached £ 3.4 billion.

West London Airport said it continued to lose money despite cutting operating costs by more than 30%.

But he insisted he had the ‘financial strength’ to survive ‘until the market recovers’, with £ 4.1bn in cash.

Some 10.2 million passengers passed through Heathrow in the first nine months of the year, up from 19.0 million during the same period in 2020.

The proposals announced by the Civil Aviation Authority (CAA) last week to allow the airport to increase passenger charges by up to 76% “do not go far enough to ensure financial viability,” said Heathrow.

The CAA plans to raise the cap on the average charge per passenger over the next five years to between £ 24.50 and £ 34.40.

Heathrow had called for the range to be between £ 32 and £ 43. The current average fare is £ 19.60.

Airport Managing Director John Holland-Kaye said: ‘We are on the cusp of a recovery that will unleash pent-up demand, create new quality jobs and see British commerce come back to life – but it risks a hard landing unless it is guaranteed for the long haul.

“To do this, we must continue to focus on the global immunization program so that borders can reopen without testing; we need a fair financial settlement from CAA to maintain service and resilience after 15 years of negative real returns for investors; and we need a gradually growing global mandate for sustainable aviation fuels so that we can protect the benefits of aviation in a carbon-free world. “


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