London’s Heathrow Airport made a pre-tax profit last year of £38 million.
It was the first time the hub had made a profit since the outbreak of COVID in 2019.
The airport described 2023 as a ‘strong year’, during which it handled 79.2m passenger – the third highest in its history.
However, it said that a forced 20% reduction in ‘real terms’ airport charges at the start of 2024, as required by the Civil Aviation Authority, means it must ‘close a £400 million gap with efficiencies and investment trade-offs over the next three years’.
And it warned that UK consumers will pay more to travel in the future if Ministers don’t speed up the delivery of a domestic SAF (sustainable aviation fuel) industry.
It also repeated its call for the Chancellor of the Exchequer to bring back tax-free shopping in his spring Budget to ‘level the playing field’ with other European countries.
The post Heathrow warns travel costs could rise as it makes first profit in years appeared first on Travel Gossip.
Continue reading...
It was the first time the hub had made a profit since the outbreak of COVID in 2019.
The airport described 2023 as a ‘strong year’, during which it handled 79.2m passenger – the third highest in its history.
However, it said that a forced 20% reduction in ‘real terms’ airport charges at the start of 2024, as required by the Civil Aviation Authority, means it must ‘close a £400 million gap with efficiencies and investment trade-offs over the next three years’.
And it warned that UK consumers will pay more to travel in the future if Ministers don’t speed up the delivery of a domestic SAF (sustainable aviation fuel) industry.
It also repeated its call for the Chancellor of the Exchequer to bring back tax-free shopping in his spring Budget to ‘level the playing field’ with other European countries.
The post Heathrow warns travel costs could rise as it makes first profit in years appeared first on Travel Gossip.
Continue reading...
