Heathrow Fi.29 Regulatory News (80CX)

Heathrow ready for growth after another record month of on-time performance

· A bumper half-term lifted Heathrow to a record 7.3m passengers last month, buoyed by a surge to European cities including Brussels, Lyon, Marseille and Vienna

· During the busiest ever October, airport and airline colleagues worked together to remain the most punctual hub airport in Europe, serving more passengers on time than any other competitors

· Achieving this level of service and ensuring Heathrow remains fit for the future needs continued investment, with plans to step up to £2bn a year from 2027

· The Treasury is urged to use the upcoming budget to address the Valuation Office Agency's punitive revaluation in business rates for airports. Heathrow faces an eye-watering multiple-fold increase. Left unchecked, these would drive unacceptable costs for airlines and could deter private investors who are ready to help UK aviation to grow and improve services, with billions in UK supply chain spend at stake

· This week, Heathrow is responding to the Government's request for further information about its expansion proposals. It is the only option that can deliver growth for the whole country during construction and once open. It includes the £33bn expansion alongside a £15bn programme of modernisation to today's airport

Heathrow CEO Thomas Woldbye said:

"The numbers speak for themselves - working with airlines, Heathrow is serving more passengers on time than any other European hub. We have the skills and knowledge to deliver a world-class airport today, and we are ready and waiting to use this to expand the UK's gateway to growth."