Heathrow tips

Saudi Arabia’s sovereign wealth fund will acquire a 10% stake in Heathrow Airport, the busiest airport in Europe. Saudi is buying the share off of Ferrovial of Spain, while Paris-based Ardian will acquire 15 percent in a deal worth £2.37 billion ($3 billion) The deal is being made by the Public Investment Fund, known as PIF, which is chaired by the kingdom’s crown prince.

If you’re feeling a little exhausted after the holiday season, spare a thought for the teams at Heathrow Airport. The London hub has just reported its busiest-ever December, even surpassing its pre-pandemic highs – a fact certain to delight its latest investors, as well as its new CEO.

Heathrow passenger numbers reached 95 percent of pre-pandemic levels in the first quarter, prompting it to lift 2023 forecasts, the British airport said on Wednesday, adding that it was prepared for a busy summer starting with the coronation of King Charles.

Britain’s Heathrow said 6.73 million passengers passed through the hub in May, making it the airport’s busiest month since the pandemic as travel demand continues to bounce back.

London’s Heathrow Airport has appointed Copenhagen Airport boss Thomas Woldbye as its next chief executive, who will take charge of western Europe’s busiest airport later in the year.