21 MAY 2018
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A record 78m passengers, 3.1% more than the previous year, helped Heathrow to grow at its fastest rate in five years in 2017, assisting Britain’s economy while retaining its position as Europe’s top-rated major airport for the third year running.
However, airport CEO John Holland-Kaye said the strong performance might still not be enough to enable Heathrow to fend off growing competition from elsewhere, principally Germany and France.
In 2017, Heathrow also recorded a 10.2% increase in cargo volumes, promoting more British trade growth and support for British jobs with nearly £700m invested in the airport over the year and new services to Portland and Santiago.
Financial performance helped to underpin the airport’s expansion plans, with revenue 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 were cut by 2.0%.
Holland-Kaye said: “Heathrow had a fantastic 2017 – welcoming record passenger numbers, giving our best service ever and offering better value for customers with lower airport charges.
“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.”
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