Record demand drives London Heathrow growth – 2024 annual results

London Heathrow Airport has reported record passenger numbers for the year ending December 31, 2024, with a total of 83.9 million passengers, marking a 6% increase in annual growth. This performance underscores Heathrow’s status as the best-connected airport globally and its commitment to improving customer service.

Key Highlights for 2024

• Passenger Growth: A record 83.9 million passengers, with a 6% increase year-on-year.
• Cargo Performance: A 10% increase in cargo, boosting British exports.
• Service Improvements: Stable security wait times, more on-time departures, and better baggage handling.
• Recognition: Heathrow was named the UK’s best airport by Condé Nast and Travel Weekly, with retail and VIP services recognised as “Best in Class.”

Financial Performance:

• Revenue: £3.6 billion, down 4% due to a lower airport charge set by the CAA.
• EBITDA: Adjusted EBITDA of £2.0 billion.
• Liquidity: A strong liquidity position at £3.4 billion.
• Dividend: The Board has approved a £250 million dividend to shareholders, the first in five years.

Sustainability and Future Investment:

• Sustainability Strategy: Launched the Nature Positive Plan and increased use of Sustainable Aviation Fuel (SAF) by 3%, surpassing UK mandates.
• Infrastructure Investment: Heathrow plans to embark on £1 billion worth of improvements, including a third runway proposal to be submitted to the Government in summer 2025.

CEO Thomas Woldbye highlighted Heathrow’s role as the UK’s gateway to growth and emphasised the importance of modernizing infrastructure to meet future demand, enhance customer experience, and boost economic performance.