Britain's biggest airport Heathrow said today its nine months loss increased to £442m as it warned it was unlikely to return to pre-pandemic demand for several years.
"Headwinds of a global economic crisis, war in Ukraine and the impact of Covid-19 mean we are unlikely to return to pre-pandemic demand for a number of years, except at peak times," it said.
The loss for the nine months to September 30 added to losses of £4 billion in the previous two years as regulated income failed to cover costs.
Revenue trebled to £2.1 billion as travel rebounded from pandemic lows.
Heathrow forecast that total passenger numbers for 2022 would reach between 60 to 62 million, about 25% fewer than 2019.
Earlier this month, Heathrow warned of a possible slowdown in travel demand this winter due to the deteriorating economic outlook, the impact of a new wave of Covid-19 and the escalating situation in Ukraine.
