UK Heathrow Airport says air traffic won't recover completely until 2026
October 26, 2021, 5:16 am

UK Heathrow Airport says air traffic won't recover completely until 2026

Plane-Air traffic/Pixabay

The Euronews reported according to Reuters, Britain’s Heathrow Airport Ltd said on Tuesday it was still reporting losses and does not expect air traffic to recover completely until at least 2026 even as the travel industry gathered steam in the third quarter on easing restrictions.

The London airport said passenger numbers in the third quarter recovered to 28% and cargo to 90% of pre-pandemic levels, although it has lost 3.4 billion pounds ($4.68 billion) cumulatively since the start of the pandemic.

Heathrow, which last year lost its crown as Europe’s busiest hub to Paris, has suffered heavy losses during the pandemic and has since tried to claw back gains by raising its charges to airlines.

Last week, the UK aviation regulator said Heathrow will not be permitted to raise passenger charges by as much as it had wanted, but airlines opposed the scale of the hike as the hub and carriers battle to recoup pandemic losses.

Heathrow said in a statement on Tuesday: “The CAA‘s (Civil Aviation Authority’s) Initial Proposals do not go far enough to ensure that investors can achieve a fair return.”

The airport, which is owned by Spain’s Ferrovial, the Qatar Investment Authority and China Investment Corp among others, said its shareholders have achieved negative returns in real-term over the last 15 years.

Heathrow, Britain’s biggest airport, said it had 4.1 billion pounds of cash to be able to come through until the market recovers.

Source: euronews

Mohammed bin Salman launches two initiatives at cost of $10.4 billion to combat climate change U.S. judge sets deadline for Duke of York's testimony in accuser's lawsuit

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has announced its sponsorship of the “Innovation and Sustainable Technology Solutions Competition (GU - IST Solutions), hosted by Gulf University at its main campus.
This strategic sponsorship reflects BENEFIT’s active role in advancing technological innovation and fostering sustainable solutions to future challenges. It also seeks to empower Bahraini youth by enhancing their skills, capabilities, and competitiveness in innovation and solution development—contributing meaningfully to the broader goals of sustainable development across all sectors.
As part of BENEFIT’s active involvement in the competition, the company has announced that Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication, will serve on the competition’s supervisory committee. Her upcoming participation reflects BENEFIT’s forward-looking commitment to championing academic and professional excellence.
Commenting on the occasion, Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication at BENEFIT, said, “We are privileged to support this pioneering initiative, which aligns seamlessly with BENEFIT’s enduring commitment to fostering innovation and nurturing the potential of Bahrain’s youth. Our participation is rooted in a deep sense of social responsibility and a firm belief in the pivotal role of innovation in shaping a sustainable future. Through such platforms, we seek to empower the next generation with the knowledge, skills, and foresight required to develop impactful solutions that address future challenges, in line with the United Nations Sustainable Development Goals 2030.”
Dr. Aseel Al Ayash Dean of the College of Engineering in Gulf University commented, “We extend our sincere gratitude to BENEFIT for their generous sponsorship and support of the Innovation and Sustainable Technology Solutions Competition. This contribution plays an instrumental role in helping us achieve the strategic goals of this initiative, namely, cultivating a culture of innovation and sustainability, encouraging efforts that address the imperatives of sustainable development, and enhancing the practical and professional capabilities of our students and participants.”
The event will bring together a diverse spectrum of participants, including secondary school students, university undergraduates, engineers, industry professionals, entrepreneurs, academic researchers, and subject matter experts representing a wide range of disciplines.
The competition seeks to inspire participants to develop and present innovative, sustainable technologies aimed at addressing pressing environmental, social, and economic challenges. It encourages the formulation of business models that integrate advanced technological solutions with core principles of sustainability. Moreover, it serves as a platform for emerging leaders, entrepreneurs, and innovators to contribute to the advancement of the Sustainable Development Goals, promote the ethos of responsible technology, and demonstrate its transformative potential across various sectors.
Attendees will have the opportunity to view a series of project presentations submitted by participants, covering diverse areas such as eco-friendly product design, smart and sustainable innovations, renewable energy technologies, water conservation and management, waste minimisation and recycling, green architectural solutions, and sustainable transportation systems. Outstanding projects will be formally recognised and awarded at the conclusion of the event.