Heathrow Airport has reported a significant 31% increase in pre-tax profits, reaching £917 million, alongside a 6% rise in passenger numbers to a record 83.9 million over the past year.

In a move signaling recovery, Heathrow plans to distribute a £250 million dividend to shareholders, marking the first such payment since the pandemic began in February 2020.

CEO Thomas Woldbye has emphasized the necessity of secure investment conditions for the proposed third runway project, which is projected to cost over £20 billion.

With the addition of a third runway, Heathrow aims to increase its capacity to handle 100 million passengers annually, with potential expansion to 140 million by its expected opening in 2035.

Heathrow's upcoming proposal for the third runway will maintain its previous design, focusing on comprehensive planning aspects, with a submission planned for this summer.

Woldbye has also stressed the importance of government commitments regarding airspace modernization before any construction on the runway can commence.

Heathrow and Gatwick can both expand, according to Woldbye, provided the government supports the third runway at Heathrow.

The UK government is anticipated to approve Gatwick's second runway soon, with a decision expected on February 27, 2025.

Transport Secretary Heidi Alexander has shown support for aviation growth, indicating her approval for Gatwick's expansion during an industry dinner.

Historically, UK airport expansions have faced limitations due to government policies, but a recent report from the Climate Change Committee has lifted these restrictions.

Despite the increase in UK aviation emissions, Woldbye believes that advancements in sustainable fuels and engineering will help reduce emissions per passenger when the new runway opens.

Woldbye noted that Heathrow's expansion plans should not be affected by Gatwick's developments, as both airports serve different roles in the aviation landscape.

Heathrow's largest shareholder is now Ardian, which holds 23%, alongside Saudi Arabia's Public Investment Fund, which owns 15%.