Heathrow airport raises outlook as travel demand surges

London’s Heathrow airport has increased its passenger forecast for the year, predicting that more than 54mn people will travel through the UK’s biggest airport in 2022.

The airport forecast that 54.4mn passengers, or 67 per cent of 2019 levels, will go through its terminals this year.

That is a significant increase from 2021 when travel restrictions were in place for much of the year. In December, the airport had predicted 45.5mn passengers for 2022.

Heathrow pointed to a “steady traffic increase” for this year, saying 20.1mn passengers had travelled through the airport in the first five months of the year.

“We have officially surpassed the total amount of passengers seen during the whole of 2021,” the airport said in an investor report said on Thursday.

“However, the degree of uncertainty is still significant,” the report added.

Heathrow expects its adjusted earnings before interest, tax, depreciation and amortisation to rise 257 per cent from 2021 to £1.37bn. Revenue is forecast to double to £2.6bn.

Higher energy prices will drive up its operating costs by almost half to £1.2bn, the airport forecast.

Heathrow’s chief executive warned this month that it would take up to 18 months for the aviation industry to return to pre-coronavirus pandemic levels.