Skip to content
Search

Latest Stories

Heathrow says it is no longer the 'busiest airport' in Europe

THE Covid-19 pandemic has forced Britain's Heathrow Airport to slash the outlook for next year's passenger numbers as the demand for flying would remain low.

It said that it is no longer the busiest airport in Europe, ceding its long-held crown to Paris.


Heathrow on Wednesday(28) said it now expected 37 million people to travel through the airport in 2021, lowering an earlier forecast made in June by 41 per cent when it guided that 63 million passengers would use it.

The airport said that during the pandemic, Paris Charles de Gaulle had overtaken Heathrow as Europe's busiest airport, blaming the UK government for not bringing in an airport testing regime to help kickstart travel.

This will be a blow to Britain's global trade ambitions just at a time when it most needs connectivity with the rest of the world, two months ahead of the end of its current relationship with the EU.

Britain has said it will bring in airport testing by the beginning of December, but Heathrow chief executive John Holland-Kaye said it should go further and agree a deal to allow travel between Heathrow and the US.

"Bringing in pre-departure Covid tests and partnering with our US allies to open a pilot airbridge to America will kickstart our economic recovery and put the UK back ahead of our European rivals," he said in a statement.

Tightening travel restrictions this autumn have hit airlines and airports, ruining hopes for a recovery.

Heathrow said the pandemic pushed it to a £1.5 billion ($1.95bn) loss in the first nine months of the year on passenger numbers which were down 84 per cent in the three months to the end of September.

But the company said its liquidity position was strong and it had sufficient cash reserves for the next 12 months even if travel stopped completely.

The airport is owned by Spain's Ferrovial, the Qatar Investment Authority and China Investment Corp among others.

More For You

UK economy contracts unexpectedly in January

Chancellor Rachel Reeves speaks while holding roundtable discussion during a visit to RAF Waddington in eastern England. (Photo by YUI MOK/POOL/AFP via Getty Images)

UK economy contracts unexpectedly in January

BRITAIN's economy unexpectedly shrank in January, official data showed on Friday (14), piling more pressure on the Labour government ahead of its Spring Statement on the economy.

Gross domestic product contracted 0.1 per cent in the month after GDP rose 0.4 per cent in December, the Office for National Statistics (ONS) said in a statement.

Keep ReadingShow less
Pakistan seeks £3.4bn bank loan to tackle mounting energy sector debt

Pakistan’s government is the largest shareholder or owner of most power companies

Pakistan seeks £3.4bn bank loan to tackle mounting energy sector debt

Eastern Eye

PAKISTAN government is negotiating a 1.25 trillion Pakistani rupee (£3.4 billion) loan with commercial banks to reduce its bulging energy sector debt, the power minister and banking association said.

Plugging unresolved debt across the sector is a top priority under an ongoing $7bn (£5.4bn) International Monetary Fund (IMF) bailout, which has helped Pakistan dig its way out of an economic crisis.

Keep ReadingShow less
Deliveroo posts first annual profit after 12 years

A Deliveroo rider near Victoria station in London, England. (Photo by Dan Kitwood/Getty Images)

Deliveroo posts first annual profit after 12 years

FOOD DELIVERY app Deliveroo announced on Thursday (13) its first annual profit as orders and revenue rose, while the 12-year old company sees further growth despite exiting Hong Kong.

The milestone follows sizeable full-year losses owing to high investment costs since American Will Shu founded the company in 2013 and made Deliveroo's first delivery in London.

Keep ReadingShow less
JLR-Tata-Getty

JLR had initially planned to manufacture more than 70,000 electric vehicles at the facility. (Photo: Getty Images)

JLR halts plan to build EVs at Tata’s India plant: Report

JAGUAR LAND ROVER (JLR) has put on hold plans to manufacture electric vehicles at Tata Motors’ upcoming £775 million factory in southern India, according to a news report.

The decision was influenced by challenges in balancing price and quality for locally sourced EV components, three of the sources said. They added that slowing demand for electric vehicles was also a factor.

Keep ReadingShow less