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.

 

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