Heathrow makes £103 million profit in first quarter

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British Airways 777-300 ER G at Heathrow on 12 August 2014

Heathrow Airport has made a £103 million ($132 million) profit in the first quarter of 2017 with growth on both the passenger and cargo sectors.

The profit compares to a £36 million loss in the same period of 2016, and revenue has increased two per cent to £655 million.

Aeronautical revenue has remained at £389 million, with most of the revenue growth coming from retail.

Chief executive officer, John Holland-Kaye says the UK benefits from Heathrow’s strength, with surging trade creating jobs.

He says expanding Heathrow with a third runway is essential, saying: “Britain is plotting a new course in the world and expanding Heathrow is more important than ever to ensure its success.”

It will make our country the best connected in the world and secure our export-led future. We’re getting on with delivering it and look forward to opening Britain’s new runway in 2025.”

Cargo volumes grew 7.3 per cent in the third quarter to 399,481 tonnes, and by 12.6 per cent in March to 148,269 tonnes, helped by links to emerging markets including Mexico, Brazil, India and China.

Cargo to Indonesia grew 9,000 per cent helped by Garuda moving to Heathrow from Gatwick Airport last year.

Chinese trade is expected to increase further with additional China Southern Airlines services to Guangzhou in June and Beijing Capital Airlines flights to Qingdao.