In Q3, Heathrow airport experienced its first full quarter of passenger growth since 2019, underscoring strong pent-up demand as travel restrictions eased and testing requirements were simplified. Passenger numbers in the third quarter recovered to 28%, and cargo to 90% of pre-pandemic levels. However, traffic is not expected to fully recover until at least 2026. Some £3.4bn in total losses since the start of pandemic underscore long road ahead, says Heathrow, pointing to its very high fixed costs. Despite over 30% reduction in operating costs, Heathrow states that it has lost £3.4bn cumulatively since the start of the pandemic and

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