Heathrow narrows its losses

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By Lisa James
23/02/2023
Home » Heathrow narrows its losses

Heathrow narrowed its annual losses in 2022 and said it won’t pay out dividends again this year.

The airport’s full year report reveals an overall loss of £684 million in 2022, down from a loss of £1,270m in 2021.

It warned ‘inflation, lower passenger numbers and insufficient regulated charges impacted underlying profitability’.

However, passenger numbers in 2022 trebled to 62m, after borders reopened in March and more than 25,000 people started working at Heathrow in the past 18 months, with levels now close to pre-pandemic levels.

The airport said: “No dividends were paid in 2022 and none are planned for 2023.”

It added: “We are seeing the benefits in a successful Christmas and half-term getaway. In 2019, passengers ranked Heathrow as one of the top 10 in the world and we are determined to get back there.”

CEO John Holland-Kaye, who recently reveals he plans to step down this year, said: 2022 may have been a year of recovery, but 2023 is shaping up to be a year of renewal for Heathrow.

“Our teams have already delivered a successful Christmas and half-term getaway, and with a great investment plan in place, we are determined to once again rank in the top 10 airports for service.

“My successor will take on a fantastic team who are making Heathrow a world leading hub that Britain can be proud of.”

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