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Heathrow (SP) Ltd on Wednesday said the London airport beat rivals in Paris, Frankfurt and Amsterdam to remain Europe’s busiest in the first quarter of 2023, though the owner and operator remained loss-making.
Heathrow reported a pretax loss of £60 million for the first three months of the year, narrowed from £191 million a year before, when the affects of the Covid-19 pandemic lingered.
Revenue rose by 58% to £814 million from £516 million, as the airport’s five terminals handled 16.9 million passengers, up 74% from 9.7 million.
‘Our robust contingency plans kept the airport running smoothly throughout a period of industrial action over the Easter peak,’ the company said.
‘Passengers can expect to travel as normal during the coronation [of King Charles III] and half-term peaks, regardless of further unnecessary strike action by [workers union] Unite.’
As Heathrow remains loss-making, even at the adjusted pretax level, it does not forecast paying a dividend in 2023, it said. Adjusted pretax loss was £139 million in the recent quarter, narrowed from £223 million a year before.
Adjusted earnings before interest, tax, depreciation and amortisation was positive £486 million, up from £273 million.
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