28 June 2024 , 08:59
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Heathrow Airport has upped its passenger forecast for this year to 82.8 million, a rise of 1.4 million from its December 2023 prediction.
This would surpass the pre-pandemic record of 80.9 million annual passengers set in 2019. Last year, the airport saw 79.2 million people pass through its terminals. The airport stated in a market update: "Over the first five months of the year, we have seen a strong demand in traffic at Heathrow, with 32.4 million passengers travelling through the airport,".
There's been a surge in consumer interest for overseas holidays since the start of the year, but prices have also remained high as travel companies capitalise on post-pandemic demand. A 2023 survey by travel association Abta revealed that 64% of Brits are planning foreign holidays in 2024.
The British Airways hub anticipates adjusted earnings to be around £1.94billion, roughly 12.8% less than last year, while revenue is expected to drop by 4.6% to £3.5billion.
Heathrow noted that aeronautical revenue is predicted to decrease by 9.7% to £2.2billion, largely due to a one-fifth reduction in regulatory charges since January 1. Operating costs are projected to increase by approximately 8% to £1.5billion to accommodate the surge in demand.
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In April, the airport reported a pre-tax profit of £189 million for the first quarter of 2024, a significant improvement from the £60million loss during the same period the previous year. "Operationally, we have performed well, delivering great service and successfully getting passengers on their way, particularly over the busy half terms, Easter and May public holidays," it said.