Heathrow recorded a loss in the first quarter of this year despite recording a 74% surge in passenger traffic, according to travelmole.com.
The airport announced adjusted pre-tax losses of £139m (R3,2bn), down from £223m (R5,1bn) last year, blaming the rising cost of servicing its debt as well as the CAA’s price cap, which it says has been set too low.
According to the Financial Times, the cost of servicing Heathrow’s £15bn (R342,38bn) of debt rose significantly, from £308m (R7,04bn) in the first quarter of 2022 to £442m (R10,10bn) in the same period this year.
“The CAA has made clear errors, which will undermine the investment needed to deliver the airport service,” it said.
The airport, which saw revenues increase by 57% to £814m (R18,6bn) in the first quarter, says it will appeal the cap on airport passenger charges.
