Heathrow Airport had unveiled the results for the three months ended last March 31, 2025. 

The highlights are: 

Passenger demand remains strong – Passenger demand in the first quarter of 2025 remained level with last year’s record performance, despite the busy Easter holidays falling in Q2 this year and the leap year in 2024. The National Energy System Operator and Kelly Reviews into the North Hyde substation fire and response are due to report initial findings in May.

Delivering a good service safely remains its priority – Punctuality is now close to record highs with over 81% of flights leaving on-time, nearly 99% of bags travelling on their flights as expected and 97% of passengers waiting less than 5 minutes at security. 

Growing range of destinations served this Summer – Heathrow is the world’s most connected airport. Nine new routes launched for Summer 2025. New long-haul connections include Cancun in Mexico, Ottawa in Canada and Kuala Lumpur in Malaysia, as well as new short-haul services to Rimini in Italy, Tbilisi in Georgia and Santiago de Compostela in Spain.

Future business plan will deliver tangible benefits for customers – It has undertaken extensive engagement with its airline partners to shape its H8 business plan over 2027 to 2031. The plan will outline the outcomes that customers can expect and provide value for its customers with the aim to submit the plan to the CAA (Civil Aviation Authority) this Summer. The CAA published their final H8 methodology, reaffirming the importance of RAB-based regulation for Heathrow's financeability and supporting many positions set out in Heathrow’s response. Alongside the method statement reflecting the UK Government’s support for Heathrow expansion, the CAA has issued a letter outlining their intention to set a separate review on the approach to costs of capacity growth (terminal and runway). The H8 timeline has been delayed, with the final decision now expected in April 2027 (after the start of the H8 period) and a 2027 holding cap to be based on CAA’s Initial Proposals (March 2026).

Unlocking new capacity at the UK’s gateway to growth – Work continues at pace towards the submission of its proposal to Ministers by the Summer. The plans would be entirely privately funded and have the potential to kickstart economic growth across the whole of the UK from construction through to operation. Depending on the Government’s response, it would aim to meet the ambition to secure planning permission in this Parliament and for the runway to be operational by 2035. 

Robust Q1 EBITDA – In the first three months of 2025, the Group’s revenue increased by 2.1% to £825 million (2024: £808 million). The higher revenue was driven by more long-haul flying, and improved property and retail income. Adjusted operating costs increased by 1.6% to £371 million (2024: £365 million) due to higher costs from PRM services, cleaning and maintenance. Utilities and other costs also increased on account of noise and vortex mitigating activities and inflation. These cost increases were partially offset by lower employment costs. Adjusted EBITDA increased 2.5% to £454 million (2024: £443 million). 

Outlook – The performance outlook for 2025 remains consistent with the forecasts published in its Investor Report on 13 December 2024. It expects overall passenger demand in 2025 to exceed 2024.