Heathrow Airport has announced a loss of £329
million for the first quarter of 2021, taking total losses incurred since the
start of the pandemic to £2.4 billion.
The airport said that just 1.7 million
passnegers passed through the hub in the first three months of the year, 91 per
cent down on the same period in 2019.
The company said it is
forecasting passenger levels of between 13 and 36 million for the full year due
to uncertainty over Government policy on reopening international travel.
The airport said that the ability of Border Force to
provide an acceptable service for arriving passengers remains “a primary
concern” and "Ministers will need to ensure every desk is staffed to avoid
unacceptable queues". Arrivals at the airport have been queueing for up to six hours due to Covid checks on every passenger.
The airport said that by reducing cash burn, operational and capital
expenditure its liquidity of £4.5 billion provides "sufficient cover to
meet all commitments for at least 15 months even with low passenger volumes”.
CEO John Holland-Kaye said: "These results show how Covid has devastated the aviation sector and British trade. Restarting
international travel from 17 May will help to kickstart the economic recovery,
allowing exporters to get their goods to market…Heathrow is gearing up for the
recovery. By acting early to cut costs and protect cash, we have put
ourselves in a strong financial position to weather the storm and are ready to
welcome back passengers, while keeping them safe.”