Heathrow Airport Reports First Profit Since Pandemic, Plans Expansion

London's Heathrow Airport returns to profitability with a £38 million profit in 2023 and sets sights on controversial third runway amid record passenger forecasts.

Heathrow Airport announced a £38 million profit for 2023, marking its first profit since the onset of the COVID-19 pandemic.
The airport's CEO, Thomas Woldbye, is finalizing a business strategy that includes plans for a controversial third runway to accommodate growing passenger numbers.
Record passenger numbers are forecast for 2024, with Heathrow expecting to surpass 2019's record with 81.4 million passengers.
Ownership changes are underway, with Saudi Arabia’s Public Investment Fund and French private equity firm Ardian acquiring significant stakes, and Abu Dhabi's Mubadala Investment Co. considering a purchase.
Despite the return to profitability, Heathrow faces challenges from new Civil Aviation Authority rules cutting airport charges by 20%, which could impact future profits.