PanaTimes

Thursday, Feb 09, 2023

Heathrow Airport says no profits this year as travel remains turbulent

Heathrow Airport says no profits this year as travel remains turbulent

The airport has already lost £4bn as a result of the pandemic.

Heathrow Airport has said it will be unable to make a profit this year, with airlines already cancelling flights for the autumn.

Once one of the busiest airports in the world, Heathrow has lost more than £4bn during the pandemic as international travel has collapsed.

Despite a bump in traffic in March following the UK’s swift removal of all remaining coronavirus restrictions, Heathrow is forecasting a slowdown after the summer months.

“Demand remains very volatile and we expect these passenger numbers to drop off significantly after the summer,” a spokesman for the airport said.

“We are already seeing airlines cancelling services into the autumn and the realities of higher fuel costs, lower GDP growth, the war in Ukraine and the ongoing pandemic will drag on demand,” he added.

Passengers queue for airport check-in ahead of the Easter Bank Holiday weekend, at Heathrow Airport, in London, Britain, April 14, 2022.


Some countries are completely closed to travel, such as China, while 80% of destinations still have testing and vaccination requirements.

Heathrow has said it is also concerned that another variant of concern could see the return of UK travel restrictions, which would harm its business.

The West London airport now forecasts 52.8m passengers will travel through Heathrow in 2022, up from its previous estimate of 45.5m.

This would represent a return to 65% of pre-pandemic levels.

Earlier this month, the airport admitted it was "stretched" as travel bounces back from the pandemic but staffing levels remain low, causing widespread delays.

March was the busiest month for passengers at Heathrow since the pandemic began, following the government’s removal of all remaining travel restrictions.

Now, the airport has said it is rushing to hire some 12,000 workers to cope with rising demand for international travel ahead of the summer.

It warned that some days this year would be as busy as any time prior to the pandemic, but that waiting times may be longer as “half of global markets still require COVID checks including testing, vaccination status and quarantine, which is causing particular congestion in check-in areas at peak times."

Newsletter

Related Articles

PanaTimes
Close
0:00
0:00
Today's news from Britain - 9th February 2023
China has declined the US's request for Defense Secretary Lloyd Austin to speak with Chinese Defense Minister Wei Fenghe after the US Air Force shot down a suspected Chinese spy balloon, according to the Pentagon
The five largest oil companies in the West generated combined profits of nearly $200 billion in 2022, which has led to increased calls for governments to impose tougher windfall taxes
2 earthquakes in Turkey killed over 2,300 people
U.S. added 517,000 jobs in January, snapping five-month string of slowing employment growth
Powerful Earthquake Strikes Turkey and Syria, Killing More Than 1,300 People.
Turkish photographer Ugur Gallenkus portrays two different worlds within a single image. Brilliant work
Tennessee Bill Would Imprison People for 3 Years If They 'Lie' About Rape to Get an Abortion.
Charlie Munger, calls for a ban on cryptocurrencies in the US, following China's lead
EU found a way to use frozen Russian funds
First generation unopened iPhone set to fetch more than $50,000 at auction.
WARNING GRAPHIC CONTENT - US Memphis Police murdering innocent Tyre Nichols
House Speaker Kevin McCarthy said he will block Reps. Adam Schiff and Eric Swalwell from serving on the House Intelligence Committee
Almost 30% of professionals say they've tried ChatGPT at work
Interpol seeks woman who ran elaborate exam cheating scam in Singapore
What is ChatGPT?
Bill Gates is ‘very optimistic’ about the future: ‘Better to be born 20 years from now...than any time in the past’
Tesla reported record profits and record revenues for 2022
Germany confirms it will provide Ukraine with Leopard 2 tanks
Prince Andrew and Virginia Giuffre Photo Is Fake: Ghislaine Maxwell
Opinion | Israel’s Supreme Court Claims a Veto on Democracy
Moonwalker Buzz Aldrin Gets Married On His 93rd Birthday
Who’s Threatening Israeli Democracy?
Federal Reserve Probes Goldman’s Consumer Business
China's first population drop in six decades
Microsoft is finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown
Tesla slashes prices globally by as much as 20 percent
1.4 Million Copies Of Prince Harry's Memoir 'Spare' Sold On 1st Day In UK
After Failing To Pay Office Rent, Twitter May Sell User Names
Lisa Marie Presley, singer and daughter of Elvis, dies aged 54
FIFA president questioned by prosecutors
Britain's Sunak breaks silence and admits using private healthcare
Hype and backlash as Harry's memoir goes on sale. Unnamed royal source says prince 'kidnapped by cult of psychotherapy and Meghan'
Saudi Arabia set to overtake India as fastest-growing major economy this year 
Google and Facebook’s dominance in digital ads challenged by rapid ascent of Amazon and TikTok
FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights
TikTok CEO Plans to Meet European Union Regulators
France has banned the online sale of paracetamol until February, citing ongoing supply issues
Japan reportedly to give families 1 million yen per child to move out of Tokyo
Will Canada ever become a real democracy?
Hong Kong property brokerages slash payrolls in choppy market
U.S. Moves to Seize Robinhood Shares, Silvergate Accounts Tied to FTX
Effect of EU sanctions on Moscow is ‘less than zero’ – Belgian MEP
Coinbase to Pay $100 Million in Settlement With New York Regulator
FTX assets worth $3.5bn held by Bahamas securities regulator
A Republican congressman-elect is under investigation in New York after he admitted he lied about his education and work experience.
Brazilian football legend Pele, arguably the greatest player ever, has died at the age of 82.
Hong Kong to scrap almost all its Covid rules
EU calls screening of travellers from China unjustified
US imposes Covid testing for visitors from China
×