Heathrow airport has said next year should bring an uptick in passenger numbers to record levels as the aviation sector continues to see strong travel demand.
Some 81.4 million passengers are estimated to pass through the airport in 2024, Heathrow said in an investor update, which would mark an increase of 2.9%.
This would take the airport past its current annual record of 80.9 million passengers, seen prior to the pandemic in 2019, as the industry continues to benefit from stubborn demand for travel, despite cost-of-living pressures.
Some 79.1 million people are forecast to travel through Heathrow this year meanwhile, which would mark a rise of 24.4% but sit below previous expectations as strikes and adverse weather hit figures, the airport added.
Profitability is also set to take a blow next year, the airport warned, as lower air tariffs will see the airport paid less per flight.
Adjusted pre-tax earnings will likely fall by 16.1% to £1.9 billion in 2024, with revenue down by 6.1% to £3.5 billion, following a move by regulator the Civil Aviation Authority (CAA) to reduce airline fees from £31.57 to £26.74, Heathrow added.
For 2023, Heathrow tipped adjusted pre-tax earnings would come in at £2.2 billion.
The airport also called for further support from low-carbon fuels, such as sustainable aviation fuel (SAF), after the first transatlantic flight powered solely by such waste materials flew from Heathrow last month.
“Sustainable aviation fuel has a fundamental role to play in aviation’s pathway to net zero, but currently there’s not enough supply,” the airport said.
“For net zero to be a reality, we need the government and industry to work together to kickstart a domestic sustainable aviation fuel industry.”