Heathrow handled 84.5 million passengers last year, its busiest on record, and it said it expects to reach 85m passengers this year.
Announcing its financial results, the London hub said that ‘demand continues to outpace the limits of the airport’s current infrastructure, reinforcing the need for expansion’.
It reported increased revenue of £3.6 billion for 2025, but its pre-tax profit was down from £917m to £575m, which it said was due to the Civil Aviation Authority (CAA) setting lower airport charges, together with increased maintenance costs and operational expenditure.
Heathrow has now called on the CAA to put in place the framework for its proposed third runway to give investors the belief that it will happen.
“Expansion at Heathrow is the Government’s flagship infrastructure project to drive long-term economic growth, and shareholders recently approved new investment to begin work on the planning application, marking a significant step forward for the project,” it said.
“However, delivering the project remains complex. It can only proceed once the necessary regulatory and policy frameworks are firmly in place to enable the next phase of delivery. To deliver the full benefits to customers and the country and to ensure it is fully privately financed, the CAA must put in place the framework that gives investors confidence.”
Key decisions are expected this year, with Parliament set to vote on the final Airports National Policy Statement (ANPS) in the autumn. Planning consent is expected by 2029.
Heathrow plans to invest £1.3bn in the airport in 2026, including a revamp of Terminal 4 and a new baggage system for Terminal 2.
The airport added that 4.2m more passengers flew on time last year than in 2024, and baggage and security performance continued to strengthen.
Heathrow CEO Thomas Woldbye said: “Last year, everyone at Heathrow rallied behind our ambition to deliver exceptional operational performance for our customers. Not only did we meet that goal, we surpassed it and achieved record‑breaking service levels.
“With strong foundations in place and with the airport now operating very close to capacity, the next chapter is crucial to our success. Expansion will unlock significant economic benefits and create an extraordinary airport, fit for the future. This year, we’ll continue progressing our plans so we can deliver for both our customers and for the country.”
