Heathrow set to “weather the storm” despite almost £2.4bn losses

Heathrow Airport has said it is in a ‘strong’ position despite having multi-billion pound losses as a result of COVID-19.

Heathrow recorded a further £329m loss in Q1 with 1.7 million passengers travelling through the airport - down 91 per cent compared to Q1 2019.

The Q1 performance brings total losses to nearly £2.4bn since the beginning of the pandemic.

John Holland-Kaye, Heathrow CEO, commented: “These results show how COVID has devastated the aviation sector and British trade.

“Restarting international travel from May 17 will help to kickstart the economic recovery, allowing exporters to get their goods to market, as well as reuniting families who have been separated for over a year.

“Heathrow is gearing up for the recovery. By acting early to cut costs and protect cash, we have put ourselves in a strong financial position to weather the storm and are ready to welcome back passengers, while keeping them safe.

“This would not be possible without the energy and commitment of my colleagues across Heathrow and I am very proud of what they have achieved.”