Heathrow Airport remains Europe’s busiest airport but that hasn’t translated into profitability.
The transport hub welcomed almost 17mln passengers in the first three months of the year but posted an adjusted pre-tax loss of £139mln for the period. The passenger numbers compared to 9.7mln a year earlier.
It blamed the regulator for the level at which it has set its annual price cap for the amount it can charge airlines for using the airport for preventing it from increasing its earnings.
The Civil Aviation Authority (CAA) is responsible for setting the amount Heathrow can charge each airline customer and this is set to fall in 2024.
Heathrow called this cap “too low” and said it had appealed against the CAA’s settlement to the competition watchdog, the Competition and Markets Authority.
The airport did pledge that upcoming strike action would not disrupt travel plans during the peak getaway period around the coronation of King Charles III, taking place on 6 May.