Heathrow expecting 'busiest summer on record' despite strike threats

The airport said a £1 billion security upgrade was ongoing, which would bring 146 new lanes across the airport’s five terminals; Heathrow, though, is understood to be one of a number of UK airports set to miss the government’s 1 June deadline to rollout next-generation scanners allowing passengers to leave liquids and electronic devices in their hand luggage as they pass through security.

Other works include a new baggage system for Terminal 2 and "once-in-a-decade" resurfacing work across both of the airport’s runways, which Heathrow says will be carried out without impacting day-to-day operations at the airport.

Heathrow made a £83 million adjusted pre-tax profit in the three months to 31 March 2024, which compares with a £139 million loss during the same period 12 months ago. It added it was delivering efficiencies designed to close a £400 million funding shortfall, it said, owed to the CAA’s latest ruling on the fees the airport can charge airlines to use its airfield.

It doesn’t currently anticipate paying shareholders dividends, but stressed this could change. "It is plausible subject to financial performance," said Heathrow. "We will continue to review optionality throughout the year."

Heathrow also took aim on Wednesday on various aspects of government policy it says is "curtailing growth and competitive".

"Ministers should rethink anti-growth policies like the ’tourist tax’ that discourage international visitors from spending in the UK, and unnecessary travel visas for transiting passengers that risk the UK’s global connectivity and Heathrow’s hub status," said the airport.

"A supportive policy environment for aviation would deliver a much-needed economic boost by encouraging people to visit, spend and do business here in the UK."

Heathrow’s chief financial officer Javier Echave, who will take up a new role as the airport’s chief operating officer on Friday (26 April), said: "It has been a successful start to the year thanks to colleagues delivering a consistent, reliable service to our passengers.

"As I close the chapter on eight years as CFO, I’m proud that Heathrow is on a strong financial footing with a clear flightpath ahead. On the horizon is Heathrow’s busiest summer yet with more passengers and destinations served than ever before. We’re ready to continue delivering."