With holiday demand soaring, Heathrow Airport has revised its passenger forecast for this year to 82.8 million – up 1.4 million from its previous forecast in December 2023.
This number will surpass the pre-pandemic record of 80.9 million annual passengers set in 2019. Last year, 79.2 million passengers moved through the airport’s terminals. The airport said in an update: “In the first five months of the year, we have seen strong demand for traffic at Heathrow Airport, with 32.4 million passengers travelling through the airport.”
Consumer interest in overseas holidays has increased since the start of the year, but prices also remain high as travel companies take advantage of post-pandemic demand. A 2023 survey by travel association ABTA revealed that 64% of Britons are planning a holiday abroad in 2024.
The British Airways hub expects adjusted profits to be around 1.94 billion pounds, down about 12.8% from last year, while revenue is expected to fall 4.6% to 3.5 billion pounds.
According to Heathrow,aviation revenue is forecast to fall by 9.7% to £2.2 billion, mainly due to a one-fifth reduction in regulatory fees from 1 January. Operating costs are forecast to increase by around 8% to £1.5 billion to meet the increase in demand.
In April, the airport reported a pre-tax profit of £189 million for the first quarter of 2024, a significant improvement from a loss of £60 million in the same period last year.
“Operationally, we have performed well, providing excellent service and successfully getting passengers on their way, particularly during the busy half term, Easter and May holidays,” he said.
The UK hub airport served a record 81.5 million passengers in the 12 months to May.
“We have an excellent team at Heathrow who have proven that we have consistently left Covid behind. Thanks to their outstanding efforts, we are now giving record numbers of people the opportunity to connect seamlessly with the world,” said airport chief executive Thomas Woldbye.
