× Government Healthcare Islamic Finance Oil And Gas Real Estate Technology Telecom Tourism

Heathrow Airport plunges to $459 million loss in Q1

May 1, 2021
aviation

London, Apr. 29 (BNA): Heathrow, Britain’s biggest airport, said on Thursday losses widened in its first quarter as the COVID-19 pandemic continued to hammer travel.

For the three months to March 31, Heathrow’s adjusted pre-tax loss was 329 million pounds ($459 million) versus 41 million pounds in the same period last year as only 1.7 million passengers travelled through the airport - down 91% compared to the first quarter of 2019, Reuters reported.

“These results show how Covid has devastated the aviation sector and British trade. Restarting international travel from 17 May will help to kickstart the economic recovery, allowing exporters to get their goods to market, as well as reuniting families who have been separated for over a year,” Chief Executive John Holland-Kaye said.

Heathrow, which during the pandemic lost its crown as Europe's busiest hub to Paris, said continuing uncertainty over British government policy meant it had reduced its passenger forecast for the year to a range between 13 and 36 million, compared to 81 million in 2019.

bna