Heathrow expects fall in passengers and profits this year because of Iran war
Summary
Heathrow Airport expects fewer passengers and lower profits this year because of the war in the Middle East, which is affecting global air travel. The airport also faces challenges with its plan to build a third runway, with government reports showing limited economic benefits and possible negative effects on local residents.Key Facts
- Heathrow expects passenger numbers to drop by 1.1% to 83.6 million this year due to the Middle East conflict.
- Passenger numbers increased by 0.7% to 32.8 million in the year up to May, partly because travelers use Heathrow as a connection when other airports are affected.
- Heathrow forecasts profits will fall by £147 million compared to last year, and by £60 million compared to its previous forecast.
- The company is working with the Civil Aviation Authority about the costs related to building a third runway.
- Government analysis estimates the third runway will increase the UK’s GDP by only up to 0.05%, much less than earlier predictions of 0.5%.
- The report warns the runway could negatively affect the health and wellbeing of up to 3 million neighbors due to noise and air pollution.
- The construction could also harm local housing, schools, healthcare, parks, and transport access.
- Heathrow’s new chair has started talks with airlines and a major local landowner to try to resolve disagreements that could delay the runway project.
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