Published on : Friday, October 26, 2018
The airport’s retail revenue was £520 million recording +5.7 per cent rise from the last year for the corresponding period. This revenue includes duty-free, speciality shops, food & beverage, car parking and other services. Total revenue increased by +2.3 per cent to £2,211 million in the nine months.
Heathrow managed a record 60.5 million passengers in the first nine months of 2018. It is a +2.5 per cent rise in the corresponding period in 2017. As per Heathrow, they are achieving record passenger numbers from 23 consecutive months. The growth has been led by Latin America (+4.6 per cent) and Africa (+4.4 per cent) followed by North America (+3.7 per cent), the Asia Pacific at (+2.6 per cent) and Europe at (+2.2per cent).
As per John Holland-Kaye, chief executive of Heathrow, strong businesses like Heathrow will support Britain’s economy and global trade for decades to come.
Heathrow has 30-day payment terms for their suppliers who constitute the small and medium businesses of Britain.
According to the airport, retail revenue was boosted by retail concessions, catering, and other services. Measures like Call to gate initiative, digital services and enhanced utilisation of spaces helped to increase the revenues. Refurbishments in Terminals 3 and 5, and ‘Grab & Go’ offerings for passengers allowing them to take food on flights helped push the catering revenues.
Increased revenues will help the airport to invest further.