London’s Heathrow Airport returned to profit last year – for the first time since before the Covid crisis – new figures show.
The airport posted an adjusted pre-tax profit of £38m for 2023; up from a loss of £684m in 2022. Revenues increased by nearly 27% to £3.7m.
Passenger numbers recovered to 79.2 million last year – marketing the third highest year in Heathrow’s history. The London hub is targeting a record 81.4 million passengers this year.
Heathrow CEO Thomas Woldbye said: “2023 was a good year for Heathrow from a challenging start to a great finish – We delivered much improved service for our customers, and managed to turn a small profit after three consecutive years of losses. That’s a great platform to build on, although in 2024, we are expected to deliver even further improved service to more passengers, but with airport charges cut by 20% in real terms. We will have to pull every lever to become more efficient and make tough choices on where we spend and invest our money to overcome the huge cost challenge set by the CAA and remain profitable over the next three years.”
