Heathrow has announced it is to pay a dividend to shareholders for the first time in five years after an increase in long-haul travel helped to boost revenue.
The world’s second busiest airport saw 18.2 million passengers travelling through it between January and March, down 1.6 per cent from 18.5 million during the same period last year.
This is being blamed partly on a 10-hour closure on March 21 as a result of a power cut caused by a fire at a nearby electricity substation. The dip is also being attributed to the timing of Ramadan and Easter this year, as well as a leap year in 2024.
Revenue increased by 2.1 per cent to £825 million in the first quarter of this year, which was driven by more long-haul flying, and improved property and retail income, said Heathrow in its quarterly financial announcement.
The airport said that “as a result of our strong operational and financial performance” it made £250 million in dividend payments in March.
Demand across the year as a whole is to "exceed 2024" when 83.9 million passengers travelled through its five terminals. A multibillion-pound expansion for the airport was unveiled earlier this year, as it prepares to submit proposals in the summer for a third runway.
Chief finance officer Sally Ding said: “2025 will be a pivotal year for Heathrow as we finalise our business plan for the next five years and submit our proposals to Government to unlock new capacity at the UK’s gateway to growth.
“Our focus on steadily improving operational performance is yielding results, and our future plans will enable us to deliver better value and more growth for our customers and the country.”
Passengers now see 81 per cent of their flights leave on time, which the airport says is close to a record high, and 99 per cent of their bags went with them, Heathrow revealed. At security, 97 per cent of travellers waited less than five minutes.
In December 2024, French company Ardian completed a deal to become Heathrow's largest shareholder, with a 23 per cent stake, while Saudi Arabia's sovereign wealth fund purchased a 15 per cent share.
This was a result of Spanish company Ferrovial selling the majority of its 25 per cent stake, and sales by other shareholders. Heathrow's other owners include the sovereign wealth funds of Qatar and China, and large infrastructure funds.
Chief executive Thomas Woldbye recently said refitting the airport to have seamless "full power" energy resilience to avoid a repeat of last month's emergency shutdown would cost more than £1 billion.
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A new relationship with the old country
Treaty of Friendship between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates
The United kingdom of Great Britain and Northern Ireland and the United Arab Emirates; Considering that the United Arab Emirates has assumed full responsibility as a sovereign and independent State; Determined that the long-standing and traditional relations of close friendship and cooperation between their peoples shall continue; Desiring to give expression to this intention in the form of a Treaty Friendship; Have agreed as follows:
ARTICLE 1 The relations between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates shall be governed by a spirit of close friendship. In recognition of this, the Contracting Parties, conscious of their common interest in the peace and stability of the region, shall: (a) consult together on matters of mutual concern in time of need; (b) settle all their disputes by peaceful means in conformity with the provisions of the Charter of the United Nations.
ARTICLE 2 The Contracting Parties shall encourage education, scientific and cultural cooperation between the two States in accordance with arrangements to be agreed. Such arrangements shall cover among other things: (a) the promotion of mutual understanding of their respective cultures, civilisations and languages, the promotion of contacts among professional bodies, universities and cultural institutions; (c) the encouragement of technical, scientific and cultural exchanges.
ARTICLE 3 The Contracting Parties shall maintain the close relationship already existing between them in the field of trade and commerce. Representatives of the Contracting Parties shall meet from time to time to consider means by which such relations can be further developed and strengthened, including the possibility of concluding treaties or agreements on matters of mutual concern.
ARTICLE 4 This Treaty shall enter into force on today’s date and shall remain in force for a period of ten years. Unless twelve months before the expiry of the said period of ten years either Contracting Party shall have given notice to the other of its intention to terminate the Treaty, this Treaty shall remain in force thereafter until the expiry of twelve months from the date on which notice of such intention is given.
IN WITNESS WHEREOF the undersigned have signed this Treaty.
DONE in duplicate at Dubai the second day of December 1971AD, corresponding to the fifteenth day of Shawwal 1391H, in the English and Arabic languages, both texts being equally authoritative.
Signed
Geoffrey Arthur Sheikh Zayed
The biog
DOB: March 13, 1987
Place of birth: Jeddah, Saudi Arabia but lived in Virginia in the US and raised in Lebanon
School: ACS in Lebanon
University: BSA in Graphic Design at the American University of Beirut
MSA in Design Entrepreneurship at the School of Visual Arts in New York City
Nationality: Lebanese
Status: Single
Favourite thing to do: I really enjoy cycling, I was a participant in Cycling for Gaza for the second time this year
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
Springsteen: Deliver Me from Nowhere
Director: Scott Cooper
Starring: Jeremy Allen White, Odessa Young, Jeremy Strong
Rating: 4/5
