Heathrow urges Britain to open up travel after sluggish recovery
London’s Heathrow Airport called for Britain to allow vaccinated passengers to travel after trailing behind Europe in recovering from the coronavirus pandemic with losses amounting to $4 billion.
The airport that used to be Europe’s busiest saw less than four million travelers in the first six months of 2021, a record that can be surpassed in just 18 days pre-pandemic.
It expects 21.5 million passengers in 2021 in hopes that holidays would boost demand.
Britain’s travel industry continues to grapple with surging COVID-19 infections and government restrictions resulting in last-minute rule changes and cancellations.
Heathrow raised its liquidity to 4.8 billion pounds ($6.60 billion) and requested a waiver of its Heathrow Finance ICR covenant for the financial year 2021 following pressures on its cash flow.
It reported an adjusted loss before tax of 787 million pounds ($1.08 billion) for the six months ended June 30, a sharp increase from last year’s 471 million loss in the same period.