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Published on Friday, December 18, 2020

Heathrow reveals impact of November lockdown






Heathrow airport has revised its 2020 traffic figures to 22.3 million, down 0.3 million on previous forecasts, as a result of the November lockdown.


In 2021, the airport expects traffic volumes to reduce by 54% versus 2019 levels to 37.1 million.


In an announcement to investors, the airport said: "Covid-19 continues to represent a seismic challenge for the aviation industry, including Heathrow.


"The pandemic drastically reduced air travel as governments around the world closed their borders and airlines dramatically cut capacity.


"Whilst we welcome the progress made by the Government's Global Travel Taskforce in establishing an initial testing regime, the speed of recovery remains uncertain and depends on making further progress with passenger testing to replace restrictive quarantine measures."


The report added: "In 2020, we forecast Adjusted EBITDA to decline 86.8% to £254 million compared to 2019 as a result of reduced passenger numbers, somewhat mitigated by £300 million of cost reduction initiatives.


"In 2021, Adjusted EBITDA is forecast to increase by 94.1% to £493 million, driven by the recovery in passenger traffic and additional cost reduction initiatives."


Read the investor report here

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