A airplane taking off
Heathrow has plunged to a £2 billion annual loss after the “hardest” 12 months within the airport’s 75-year historical past because the pandemic noticed passenger numbers crash by 73%.
The variety of individuals passing by way of the west London airport tumbled from 80.9 million in 2019 to 22.1 million final 12 months – a stage not seen for the reason that Seventies – and greater than half of these travelled earlier than the Covid-19 disaster struck.
The group’s mammoth loss final 12 months compares with income of £546 million in 2019.
This got here regardless of the group’s transfer to slash prices by almost £400 million, scale back spending by £700 million and lift £2.5 billion to assist see it by way of the disaster.
Its cost-cutting motion noticed it slash its administration crew by a couple of third and round 1 / 4 of frontline employees take voluntary redundancy.
Heathrow stated it’s now getting ready for a “secure restart of journey” this 12 months.
However bosses known as on Chancellor Rishi Sunak to ship measures to help the stricken sector in subsequent week’s Funds, making a plea for 100% enterprise charges reduction, an extension of the furlough scheme and to revive VAT-free searching for vacationers to the UK.
Chief government John Holland-Kaye stated: “2020 has been the hardest 12 months by far in Heathrow’s 75-year historical past.”
However he added: “We could be longing for 2021, with Britain on the cusp of turning into the primary nation on the earth to soundly resume worldwide journey and commerce at scale.
“Getting aviation shifting once more will save 1000’s of jobs and reinvigorate the economic system, and Heathrow might be working with the World Journey Taskforce to develop a strong plan underpinned by science and backed by business.”
