There has been an uptick in passenger numbers at Heathrow airport in recent years, as the aviation sector continues to see strong demand for travel.
A Heathrow investor update estimated that 81.4 million passengers will pass through the airport in 2024, a 2.9% increase over last year.
The airport would surpass its current annual record of 80.9 million passengers, set before the pandemic occurred in 2019, as the industry continues to benefit from stubborn travel demand even in light of rising costs of living.
Heathrow expects 79.1 million passengers to pass through this year, representing a 24.4% increase, but below previous expectations due to strikes and adverse weather conditions, according to the airport.
According to the airport, profitability will also suffer next year, as lower air tariffs will result in lower per-flight revenues.
According to Heathrow, adjusted pre-tax earnings are expected to fall by 16.1% to £1.9 billion in 2024, with revenue falling by 6.1% to £3.5 billion, following the Civil Aviation Authority’s decision to lower airline fees from £31.57 to £26.74.
Heathrow predicts adjusted pre-tax earnings of £2.2 billion for 2023.
Following the first transatlantic flight using waste materials, Heathrow has also requested additional support from low-carbon fuels, such as sustainable aviation fuel (SAF).
“Sustainable aviation fuel has a fundamental role to play in aviation’s pathway to net zero, but currently there’s not enough supply,” the airport said.
“For net zero to be a reality, we need the government and industry to work together to kickstart a domestic sustainable aviation fuel industry.”
