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Heathrow Airport reports record air travel demand for 2024

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Heathrow Airport reports record air travel demand for 2024
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London Heathrow Airport | Official Website

London Heathrow Airport has announced that 2024 was a record-breaking year for passenger traffic, with the facility welcoming its highest-ever number of passengers in a single calendar year. As a result of this operational success, the largest and busiest airport in the United Kingdom will be paying a dividend to its ultimate shareholders for the first time in five years.

Before the coronavirus pandemic in 2020, London Heathrow Airport's annual traffic had begun consistently exceeding the 80-million mark. This milestone was first reached in 2018, when 80.1 million passengers passed through its doors, climbing to an impressive annual total of 80.9 million in 2019. However, the global health crisis derailed this growth.

In 2020, only 22.1 million passengers passed through Heathrow's doors, with this figure dropping further to 19.4 million in 2021. With travel restrictions relaxing in 2022, totals bounced back to 61.6 million and continued climbing to 79.2 million in 2023. As announced by the airport today, an unprecedented total of 83.9 million paying guests were recorded for \[2024\].

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CEO Thomas Woldbye said:

"Our colleagues welcomed a record number of passengers with good service, cargo volumes increased by ten per cent boosting British trade and we invested over one billion pounds to improve facilities and boost resilience which creates more value for customers at Britain's front door."

Interestingly though key financial metrics were slightly lower than previous years due to "a lower airport charge set by CAA." Annual revenue stood at £3.6 billion ($4.55 billion), while adjusted EBITDA totaled £2 billion ($2.53 billion). These figures represented year-on-year declines of \[3\.5%\] and \[8\.7%\] respectively despite a \[5\.9%\] growth rate on passenger traffic.

However pre-tax profit grew significantly by \[30\.8%\] reaching £917 million ($1.16 billion) compared with £701 million ($886.3 million) from last year's results; likewise adjusted pre-tax profit rose from just £38m up towards some- where around four hundred fifty-million-pounds mark:

"For first time five years as result strong business performance board decided pay dividend quarter-billion-pounds ultimate shareholders coming weeks," said their statement regarding financial outcomes.

Looking ahead into future plans beyond immediate busy schedule projected via Cirium data showing approximately half-million flights offering seats totaling above hundred-six-million-seat-miles available across board; efforts focused delivering improvements remain priority according Woldbye:

"Over next decade making largest private investment UK transport network modernize unlock new capacity growth," adding hopes economic benefits alongside competitive world-class hub status being achieved through these initiatives."

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