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London Heathrow blames airport fee cap as losses continue
Despite posting a 74% surge in passenger traffic, London Heathrow still made a first quarter loss.
The airport narrowed its losses but blamed the CAA’s price cap for not generating more revenue.
It announced adjusted pre-tax losses of £139m, down from £223m last year.
It bemoaned ‘the revenue allowance in the CAA’s H7 settlement being set too low.’
‘The CAA has made clear errors, which will undermine the investment needed to deliver the airport service,’ it said.
The airport says it will appeal the airport fee cap, which it says is too low.
British Airways and Virgin Atlantic are also appealing for the opposite reason.
Still, revenues increased by 57% to £814m.
“2023 has got off to a strong start. We are building our route network to connect all of Britain,” said CEO John Holland-Kaye.
It also cited recent industrial action at the airport.
“Our robust contingency plans kept the airport running smoothly throughout a period of industrial action over the Easter peak.”
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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