Record passenger numbers help Heathrow narrow full-year losses

Heathrow has reported a sharp reduction in losses on the back of record passenger numbers.

The firm, formerly called BAA, posted a pre-tax loss of £32.8m for 2012, down from £255.8m the previous year, on revenues 8.1 per cent higher at £2.5 billion.

Passenger numbers at Heathrow Airport rose 0.9 per cent to 70 million, but Stansted – which was sold to Manchester Airports Group for £1.5bn last month – witnessed a 3.2 per cent decline to 17.5 million.

Chief executive Colin Matthews said: “2012 was an historic year for Heathrow. We gave a warm welcome and a smooth journey to thousands of Olympic and Paralympic athletes, and greeted a record 70 million passengers over the 12 months.

“Our capital investment programme continued, with over £1bn spent on improving the airport, mainly on the new Terminal 2 which opens next year.”