Heathrow profits down 10 per cent

London Heathrow Airport has reported a 10 per cent fall in annual profits, arguing that expansion is necessary to compete with its European rivals.

London Heathrow Airport has reported a 10 per cent fall in annual profits, arguing that expansion is necessary to compete with its European rivals.

Annual profits were down to £839m ($1.3bn) for 2014, despite revenues reaching £2.69bn ($4.15bn) – 8.8 per cent higher than in 2013.

The airport also experienced its busiest ever year, with 73.4 million passengers served, a 1.4 per cent increase year on year.

John Holland-Kaye, chief executive of Heathrow, said the airport was “losing a battle it should be winning” as its growth rate was less than half that of the main hubs in Paris, Frankfurt, Amsterdam and Madrid.

TAGS: Europe
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish