UK. London Heathrow Airport retail revenue climbed by +11.3% year-on-year in the first nine months of 2024, with the figure reaching £572 million (US$742 million).
The rise in retail income, which includes retail concessions and car parking, outstripped passenger growth of +6.2% to 63.1 million in the period.
Total revenue fell by -3.2% to £2,650 million (US$3,436 million), which the airport company attributed to lower charges set by regulatory body the Civil Aviation Authority, partially offset by passenger increases. Adjusted pre-tax profit for the period hit £350 million (US$454 million) compared to a loss of £19 million a year ago.
Heathrow highlighted its Commercial Revenue Programme, which has seen an investment of £48 million across commercial propositions in retail, digital and surface access, with new media screens installed in terminals and further developments in the retail estate, including a new Harrods store in Terminal 3.
Almost all markets exceeded 2023 numbers for passenger traffic, with double-digit growth for the UK and Asia Pacific regions. Africa saw fewer passengers travelling to Algeria, Kenya and South Africa.
Summer 2024 was Heathrow’s busiest ever, with record-breaking months in June, July, August and September. Between June and September, over 30 million passengers flew through Heathrow.
Madrid, Los Angeles, Amsterdam, Frankfurt and Delhi are the latest destination to join the ‘millionaire club’ – routes with over a million passengers travelling from Heathrow– joining Doha, Dublin, Dubai and New York.
As reported, Heathrow Airport is embarking on a tendering programme for luxury spaces in T5. Click here for our recent interview with Retail Director Fraser Brown. ✈
