Heathrow pademic losses spike to $4bn

Photo: EPA

UK major Heathrow Airport announced losses related to Covid-19 travel restrictions that amount to four billion dollars, Reuters reported. The airport further urged the UK cabinet to waive travel restrictions on vaccinated passengers.

Heathrow, which before the pandemic was the busiest airport in Europe, announced disappointing that fewer than four million people that travelled through the airport in the first half of 2021, a level which would have been surpassed in less than 20 days of 2019's traffic levels.

It said it now hoped that 21.5 million passengers would travel through Heathrow in 2021, driven by what it hopes will be pent-up demand for holidays.

"The UK is falling behind its EU rivals in international trade by being slow to remove restrictions," Heathrow Chief Executive John Holland-Kaye said in a statement on Monday. Britain's travel industry continues to be dragged down by surging Covid-19 cases at home and government caution, causing last-minute rule changes and cancellations. Heathrow said it had increased liquidity to 4.8 billion pounds. For the six months to June 30, Heathrow posted an adjusted loss before tax of 787 million pounds, compared to the 471 million loss for the same period last year which was only half affected by the pandemic.


Similar articles

  • Ireland’s Ryanair aims to hire 5,000 new staff

    Ireland’s Ryanair aims to hire 5,000 new staff

    Irish airline Ryanair said on Thursday that it’s planning to create 5,000 jobs over the next five years as part of its recovery from the shock of the coronavirus pandemic, AP reported. The additional pilots, cabin crew and engineers will mean that the company will have more than recouped the 3,000 jobs it got rid of at the start of the pandemic last year. CEO Michael O’Leary said the carrier has been snapping up slots that have been vacated by airlines that have either collapsed or retrenched over the past 18 months or so.

  • US passes $10bn high speed rails bill

    US passes $10bn high speed rails bill

    US House of Representatives will vote next week on new legislation that envisages some $10 billion in government help for high-speed-rail corridors. The House Transportation and Infrastructure proposal also includes another 10 billion dollars to support mobility for low-income Americans, including establishing new transit routes and funding for a fare-free service. The money is expected to be part of a $3.5 trillion government spending bill, Reuters reported.

  • Australia sells Sydney Airport for $17.4bn

    Australia sells Sydney Airport for $17.4bn

    Australia holds talks with strategic investors in a bid to sell its biggest airport. The expected value of the transaction for the Sydney Airport is some 17.4 billion dollars, Reuters reported. The buyer is an infrastructure investor group which won permission to conduct due diligence after depositing weetening its takeover offer.