Heathrow reports continued losses due to COVID

Thursday, July 29, 2021

According to the latest reports by Heathrow Airport, the cumulative losses from Covid-19 have amounted to £2.9 billion. The revenue fell by half in the six months to June, down to £348 million.Losses totalled £868 million for the period.

Just 3.9 million passengers passed through Heathrow in the first half of the year, down by three quarters from the, already Covid-19 impacted, figure seen in 2020. Cargo volume at Heathrow, the biggest port in the UK in terms of value, remains 18 per cent down on pre-pandemic levels, while Frankfurt and Schiphol are up by nine per cent.

As per one statement, Britain is also losing out on tourism income and trade with key economic partners like the EU and US because ministers continue to restrict travel for passengers fully vaccinated outside the UK. Trade routes between the EU and the US have recovered to nearly 50 per cent of pre-pandemic levels while the UK remains 92 per cent down.

John Holland-Kaye, Chief Executive, Heathrow Airport said in a statement that the UK is emerging from the worst effects of the health pandemic, but is falling behind its EU rivals in international trade by being slow to remove restrictions. He said that replacing PCR tests with lateral flow tests and opening up to EU and US vaccinated travellers at the end of July will start to get the economic recovery off the ground.

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