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Heathrow warns over long road to recovery

by LLB Reporter
26th Oct 21 11:14 am

Heathrow Airport warned today that it faces “a long road ahead” after it ran up losses of more than £1bn in the first nine months of the year.

It said that it could be “on the cusp of a recovery” as travel returns, but does not expect traffic to fully recover until at least 2026.

The Guardian reported: “The airport has racked up total losses of £3.4bn since the start of the Covid-19 pandemic, when economies locked down and brought travel to an abrupt halt.“

John Holland-Kaye, the chief executive, said: “We are on the cusp of a recovery which will unleash pent-up demand, create new quality jobs and see Britain’s trade roar back to life – but it risks a hard landing unless secured for the long-haul.

“To do that, we need continued focus on the global vaccination programme so that borders can reopen without testing; we need a fair financial settlement from the CAA to sustain service and resilience after 15 years of negative real returns for investors; and we need a progressively increasing global mandate for sustainable aviation fuels so that we can protect the benefits of aviation in a world without carbon.”

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