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Heathrow Airport

London’s Heathrow Airport served 16 million passengers in the three months from January to March, representing a traffic growth of 0.5% compared to the same period in the previous year.

The airport noted that the slightness of the increase reflects the later timing of Easter in 2014.

Revenue increased 10.8% to £576m for the three months, while EBITDA rose 31.8% to £319m.

Heathrow chief executive officer Colin Matthews said that passenger satisfaction ratings were at their highest-ever level in the first quarter, reflecting a steady operational improvement.

"Terminal 2 is on time and on budget and will further improve Heathrow’s passenger satisfaction ratings when it opens on 4 June," he added.

"Long-term prospects are also bright, and our submission to the Airports Commission in May will set out the case for building on Heathrow’s strength as a global hub that can connect all of the UK to the world’s fastest-growing markets."

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By GlobalData

The new Terminal 2 will be officially unveiled by Queen Elizabeth II later this year. It had an investment fund of £2.5bn and was developed by luis vidal + architects over a period of five years.

The building features a new covered court that connects the main transport links to the terminal. It is characterised by a steel-framed roof that floods the building with natural light.

Image: Heathrow Airport reported strong financial growth in the first quarter of 2014. Photo: courtesy of LHR Airports Limited.