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London Heathrow flies to busiest first half

London Heathrow flies to busiest first half

Heathrow flies to busiest first half ever in 2018 – Strong passenger satisfaction scores pushed up demand to fly from the UK’s hub to an all-time high of 38.1 million passengers (+2.5%), with growth across all markets. Four new connections to China in 2018 helped trade through Heathrow grow 2.2% to 841,449 tonnes of cargo

  • Summer getaway pushes sales higher – As the summer getaway gets into full-swing, passengers are spending more in Heathrow’s shops pushing retail growth 4.8% higher. Sunglasses have proved particularly popular, with over 700 pairs sold each day so far this year. Strong retail spend helps support lower airport charges which fell around 1%
  • Healthy financial growth – Strong retail sales and continued passenger growth pushed revenues up 2.3% to £1,405 million and increased Adjusted EBITDA by 1.6% to £848 million. Heathrow continues to invest responsibly in improving the passenger experience, with operating costs increasing slightly after investments to boost resilience, security and service. Heathrow is proud to have been given a “Good” accessibility rating by the CAA
  • Strong appetite to invest in Heathrow – Nearly £1 billion in global financing raised in 2018 to invest in the UK’s hub airport, demonstrating Heathrow’s attractiveness to global investors
  • Heathrow goes electric – After a nearly £6 million investment, Heathrow has installed over– boosting sustainable transport options and giving Heathrow the densest electric charging network in Europe
  • Expansion takes off – In June, an overwhelming political mandate in Parliament propelled Heathrow’s expansion project forward. Heathrow is now reviewing over 100 fresh ideas from UK businesses and entrepreneurs to help deliver the project more innovatively, sustainably and affordably. This is in addition to finalising visits to 65 UK sites bidding to help build the project through large-scale offsite manufacturing

John Holland-Kaye, Chief Executive Officer of Heathrow, said:

“2018 will be a year for the record books – England’s footballers have made the nation proud, we’ve had the best summer sunshine in years and Parliament voted overwhelmingly to expand Heathrow. We’re proud to be the front door of a nation flying high, and we’ll continue delivering a great passenger service and the global trading links that will keep the UK thriving for decades to come.”

At or for six months ended 30 June 2017 2018  Change (%)
(£m unless otherwise stated)      
Revenue 1,374 1,405 2.3
Adjusted EBITDA(1) 835 848 1.6
EBITDA(2) 909 887 (2.4)
Cash generated from operations 820 847 3.3
Cash flow after investment and interest(3) 200 194 (3.0)
Pre-tax profit(4) 102 95 (6.9)
Heathrow (SP) Limited consolidated net debt(5) 12,372 12,453 0.7
Heathrow Finance plc consolidated net debt(5) 13,674 13,749 0.5
Regulatory Asset Base(5) 15,786 15,952 1.1
Passengers (million)(6) 37.1 38.1 2.5
Retail revenue per passenger (£)(6) 8.43 8.62 2.2











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Juergen Thomas Steinmetz has continuously worked in the travel and tourism industry since he was a teenager in Germany (1979), beginning as a travel agent up through today as a publisher of eTurboNews (eTN), one of the world’s most influential and most-read travel and tourism publications. He is also Chairman of ICTP. His experiences include working and collaborating with various national tourism offices and non-governmental organizations, as well as private and non-profit organizations, and in planning, implementing, and quality control of a range of travel and tourism-related activities and programs, including tourism policies and legislation. His major strengths include a vast knowledge of travel and tourism from the point of view of a successful private enterprise owner, superb networking skills, strong leadership, excellent communication skills, strong team player, attention to detail, dutiful respect for compliance in all regulated environments, and advisory skills in both political and non-political arenas with respect to tourism programs, policies, and legislation. He has a thorough knowledge of current industry practices and trends and is a computer and Internet junkie.