Sunday, July 21, 2024
Heathrow makes £664 million profit in 2015

Heathrow makes £664 million profit in 2015

Heathrow Airport made a profit of £664 million ($936 million) in 2015 compared to a loss of £98 million in 2014, as it continues its campaign for a third runway.

The London hub says demand has outstripped capacity, with Vietnam Airlines moving services to Ho Chi Minh City and Hanoi from Gatwick Airport, for improved transfers for passengers and cargo. British Airways started a new service to Kuala Lumpur and Garuda Airlines is moving from Gatwick to Heathrow for Jakarta flights.

In July 2015, the UK government appointed Airports Commission released its report on expanding capacity in the South East of England, concluding Heathrow was the best option. The government said it would not formally respond until the end of 2015, before postponing the decision until the middle of this year to carry out further environmental impact analysis. The airport says a third runway could provide up to 40 new long haul  destinations, bringing economic benefits of £211 billion and 180,000 new jobs.

Heathrow Airport chief executive officer, John Holland-Kaye says: “I’m confident that this summer the government will agree with its Airports Commission that expanding Heathrow is the only way to secure Britain’s long-term economic future and meet environmental demands. We stand ready to deliver.”

Cargo volumes at Heathrow rose to 1.5 million tonnes, helped by Asian growth, particularly to Hong Kong and China, as well as Vietnam.

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