Heathrow records 31% jump in annual profits

Heathrow has said a 31% surge in annual profits and a record year for passengers underscores the need for it to build a third runway.

Owners of the west London airport reported pre-tax profits of £917 million for 2024, up from £701 million in 2023, with a 6% rise in annual passengers travelling through its four terminals to 83.9 million.

But revenues fell 3.5% to £3.56 billion and underlying earnings also dropped 8.7% to £2.04 billion, which Heathrow said was a result of lower charges paid by airlines, set by regulator the Civil Aviation Authority.

Chancellor Rachel Reeves gave her backing for Heathrow’s third runway project in a speech on growth last month.

The airport responded by saying it would submit detailed plans to the Government in the summer.