Heathrow reports "sufficient liquidity" despite 97% drop in passengers

A UK airport has announced that it saw a 97 per cent drop in passengers last month compared to 2019.

Heathrow has reported an 18.3 per cent decrease in demand between January and March, as well as an earnings decrease of 22.4 per cent.

The company has said that its £3.2bn liquidity is “sufficient to maintain the business at least over the next 12 months, even with no passengers”.

It also reported that it has reduced costs by approximately 30 per cent, by reducing all operations to one runway and cutting pay for management.

It is now calling for the UK government to lead the way in establishing a common international standard for safe air travel, which it says will help the economy recover once the pandemic is over.

John Holland-Kaye, CEO of Heathrow, commented: “Heathrow is proud to serve Britain by remaining open for repatriating UK citizens and critical supplies of PPE.

“When we have beaten this virus, we will need to get Britain flying again so that the economy can recover as fast as possible.

“That is why we are calling on the UK government to take a lead in setting a Common International Standard for safe air travel.”

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