Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Heathrow continues to see ‘signs of recovery’ for business travel

by December 21, 2022
December 21, 2022
Heathrow continues to see ‘signs of recovery’ for business travel

London Heathrow is expecting business travel to account for a higher share of its traffic in 2023, as the corporate market has been “showing signs of recovery” in recent months.

The UK hub airport said that business travellers made up 21.5 per cent of its total passenger traffic in the third quarter of 2022, which compared with 28 per cent during the same period in 2019.

Heathrow said in a report to investors that it would cater for an estimated 61.4 million passengers this year, which is at the “upper end” of its previous forecast and represents around 75 per cent of 2019’s traffic. Passenger numbers only reached 22.1 million travellers in 2020 and 19.4 million in 2021.

“Although demand continues to be driven by outbound leisure; inbound leisure and business travel are showing signs of recovery,” said Heathrow.

“The increase in passenger numbers this year is higher than at any other airport in Europe. Passenger growth was seen in all regions, with Latin America, North America and Europe, in particular, driving the increase in passenger numbers compared to 2021.”

The airport is now predicting that the overall rebound in traffic in 2023 will “slow considerably” due to economic factors. Heathrow is forecasting a 9.5 per cent increase to 67.2 million passengers next year, which would still be 17 per cent lower than its pre-Covid figure.

“Whilst the majority of Covid restrictions have been removed we now face further uncertainty from an economic perspective with key markets already in recession or predicted to be in 2023; the fast-paced levels of growth seen in 2022 are expected to slow considerably,” said Heathrow in its report.

“We expect a higher weighting of business and leisure markets to return going forwards, which have had slower rates of recovery so far. It is expected that east Asia gradually eases restrictions throughout 2023 but the impact of the Ukraine-Russian war is ongoing.”

Heathrow expects to make adjusted ebitda (earnings before interest, taxes, depreciation and amortisation) of £1.7 billion in 2022, which is an increase of £308 million on its previous forecast in June. Ebitda is currently predicted to rise by 4 per cent in 2023 to £1.75 billion.

Read more:
Heathrow continues to see ‘signs of recovery’ for business travel

0
FacebookTwitterGoogle +Pinterest
previous post
Will HMRC ever be able to deliver Making Tax Digital plans
next post
London City submits application to raise passenger cap

You may also like

Family firms accuse Labour of dishonesty over tax...

September 25, 2024

Business Banking Resolution Service announces Ombudsman Association membership

October 26, 2022

Bitcoin smashes $106,000 barrier as Trump hints at...

December 16, 2024

Shop Price Inflation Hits Two-Year Low, Fuelling Expectations...

April 2, 2024

Ocado to close its Hertfordshire warehouse with 2,300...

April 26, 2023

Aaron Haapala Looking At Market Resilience in a...

February 5, 2025

Getting to Know You: UMi Chief Executive, Nicki...

August 1, 2022

Small Business Saturday launches Mentoring and Support Campaign

October 5, 2023

Business leaders paralysed by risk warn BDO as...

June 9, 2025

Ukraine’s corruption purge setting stage for private investment-driven...

February 6, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Pentagon presses Japan, Australia on role in possible Taiwan conflict

      July 14, 2025
    • Bitcoin Just Smashed $112K—Is a Surge to 124K Next?

      July 14, 2025
    • Biden chief of staff reportedly gave approval for autopen pardons on final day in office

      July 14, 2025
    • ‘One more’: Senate Republicans eye tackling another reconciliation bill

      July 14, 2025
    • Democrats seize on Epstein files drama with new transparency calls

      July 14, 2025
    • Ukrainian Refugees Probably Didn’t Reduce the Birth Rate in Czechia

      July 14, 2025

    Categories

    • Business (8,473)
    • Investing (2,120)
    • Politics (16,033)
    • Stocks (3,208)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved