Heathrow issues profit warning after pandemic losses top £4bn as it warns demand remains ‘very volatile’
Heathrow has warned it will not return to profit this year after pandemic losses topped £4billion.
In its first quarter results, the west London airport said ‘demand remains very volatile’ despite enjoying a surge in last-minute Easter getaway bookings.
Heathrow’s revenues climbed 213 per cent from £165million last year to £516million in the first three months of 2022.
Fragile recovery: In its first quarter results, Heathrow said ‘demand remains very volatile’ despite enjoying a surge in last-minute Easter getaway bookings
And passenger forecasts were met after 9.7million people travelled through its airport in January, February and March.
But the airport said it has lost £4bn since the start of the Covid pandemic.
Heathrow said it expects to see 52.8million passengers pass through its airport this year – up from a previous forecast of 45.5million.
More than 95 per cent of passengers passed through security within five minutes during the Easter getaway, the airport added.