Heathrow has revealed a record 83.9 million passengers passed through its four terminals last year, a 6 per cent increase on the previous period, boosting its pre-tax profits by nearly a third to £917 million in 2024.
The update arrives just weeks after Chancellor Rachel Reeves confirmed government support for a third runway, describing the project as “badly needed” to bolster Britain’s global connectivity.
Thomas Woldbye, Heathrow’s chief executive, pledged that the airport would invest significantly over the next decade to modernise and expand its facilities, calling the new runway “the largest private investment in the UK’s transport network.” He aims to see flights from the third runway by 2035, although regulatory approvals and climate targets remain major hurdles.
Heathrow’s revenue dipped 3.5 per cent to £3.6 billion last year, with underlying earnings (EBITDA) down 8.7 per cent to £2 billion—partly due to airlines benefiting from lower charges set by the Civil Aviation Authority. The airport plans to distribute a £250 million dividend to shareholders for the first time in five years, with recent acquisitions by French company Ardian and Saudi Arabia’s sovereign wealth fund reshaping its ownership structure.
Other key shareholders include sovereign wealth funds from Qatar and China, in addition to large infrastructure funds.