Heathrow Airport welcomed a record 83.9 million passengers in 2024, highlighting a strong recovery in air travel despite ongoing capacity constraints at Britain’s busiest hub.
The passenger total represents a 6% increase from 2023, according to financial results released today by Heathrow (SP) Limited. The airport also reported a 10% increase in cargo volumes, providing a boost to British exports to markets around the world.
Despite the record passenger numbers, Heathrow’s total revenue declined by 4% to £3.6 billion, with adjusted EBITDA also falling to £2.0 billion. The airport attributed this decrease to a lower airport charge set by the Civil Aviation Authority (CAA).
“2024 underscores why Heathrow is the UK’s gateway to growth,” said Thomas Woldbye, Heathrow CEO. “Our colleagues welcomed a record number of passengers with good service, cargo volumes increased 10% boosting British trade, and we invested over £1 billion to improve facilities and boost resilience.”
The airport maintained strong operational performance throughout the year, with stable security wait times, improved on-time departures, and better baggage handling despite increasing passenger numbers. This performance earned Heathrow recognition from both Condé Nast and Travel Weekly as the UK’s best airport.
For the first time in five years, Heathrow’s Board has decided to pay a £250 million dividend to its ultimate shareholders, citing strong business performance in 2024. The airport’s financial position remains robust with a strong liquidity position of £3.4 billion.
In terms of sustainability, Heathrow launched its first Nature Positive Plan in 2024, committing to tackle climate change and biodiversity loss. The airport reported that record amounts of Sustainable Aviation Fuel (SAF) were used during the year, with its 3% incentive for 2025 being 1% above the UK mandate.
Looking ahead, Heathrow plans to embark on what it describes as “the largest private investment in the UK’s transport network” over the next decade, with projects aimed at modernizing existing facilities and unlocking new capacity. The airport also intends to submit proposals for a third runway to the Government this summer.
“Securing future economic growth means investing in the infrastructure that powers it,” Woldbye added. “Over the next decade, we will be making the largest private investment in the UK’s transport network which will modernize Heathrow and unlock new capacity for growth.”
The airport’s regulatory asset base increased by 3.1% to £20.4 billion, while consolidated nominal net debt decreased slightly to £14.7 billion from £14.8 billion in 2023. The airport’s profit before tax rose substantially to £917 million, up from £701 million in 2023.
Heathrow officials noted that while passenger demand is expected to continue growing in 2025, growth will likely be limited by existing capacity constraints at the airport.
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