Heathrow Brexit warning

A further plea for Heathrow expansion to be given the go-ahead as quickly as possible came last week from airport CEO John Holland-Kaye as he announced record results for 2017 but warned against complacency.

“Heathrow had a fantastic 2017 – welcoming a record 78m passengers, giving our best service ever and offering better value for our passengers with lower airport charges,” he said.

“But while we are squeezing out small bits of growth, our rivals in France and Germany are overtaking us – for Britain to thrive post-Brexit, the government needs to crack on with Heathrow expansion as quickly as possible with a vote in parliament before the summer.”

Holland-Kaye said Heathrow grew at its fastest rate in five years in 2017, helping Britain’s economy to thrive with record passenger numbers, 3.1% up, while retaining its position as Europe’s top-rated major airport for the third year running.

There was a 10.2% increase in cargo volumes, promoting more British trade growth, support for British jobs with close to £700m invested in the airport over the year and new services to Portland and Santiago, he added.

A strong financial performance included revenues of £2,884m, up 2.7%, and adjusted EBITDA of £1,760m, up 4.6%, reflecting lower operating costs and strong retail growth, while passenger charges decreased by 2%.

www.heathrow.com

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