Heathrow expects loss-making year

LONDON:

Heathrow airport said on Tuesday it expects another loss-making year in 2022 as fallout from high inflation, renewed Covid travel restrictions and the Ukraine war hamper aviation sector recovery. “Heathrow expects to remain loss-making throughout this year,” it said in a statement. This comes despite the airport handling five million passengers in April – almost double February’s figure. Heathrow increased its passenger forecast for this year to nearly 53 million, up 16% on its previous estimate. While the aviation sector recovers as skies reopen and economies emerge from lockdowns, Heathrow on Tuesday pointed to factors hampering the rebound. These included last week’s warning from the Bank of England that the UK economy could fall into recession amid a cost-of-living crisis. “The ongoing war in Ukraine, higher fuel costs, continuing travel restrictions for key markets like the United States and the potential for a further (Covid) variant of concern creates uncertainty going forward,” Heathrow added. 

Published in The Express Tribune, May 11^th, 2022.

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