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uninterrupted. Hundreds of critical systems across the airport were required to be safely powered down and safely and systematically rebooted.” Engineers reported they had


restored the power supply to Heathrow by 2pm. Heathrow was satisfied its systems were reliable and safe by 4pm, when it announced plans to reopen from about 7pm. The fallout was complicated


by the fact that airlines are keen to see a revision of Heathrow’s charging regime and a reduction in costs, and they want this before it is given the go-ahead for a third runway, which, under the current regulatory regime, would be partly financed by increased charges. If Heathrow mishandled


the situation or can be blamed for underinvestment in backup systems, it can only strengthen their argument. Airline chiefs have reason to


be annoyed. They are not liable to compensate passengers for the disruption, but must pick up the bill for looking after people. The government announced


an inquiry by the National Energy System Operator (Neso), reporting to energy secretary Ed Miliband and transport secretary Heidi Alexander. Neso was set up as a nationalised energy system operator separate from the privately owned National Grid last September. The inquiry is due to report its initial findings in six weeks’ time. The resilience of the power


supply may be the biggest issue. A consultant on power grids, UK Network Services managing director Simon Gallagher, suggested that every airport in the UK had the same “vulnerability” to National Grid faults.


Gatwick profits surge 9% in 2024 to £343 million


Gatwick reported an annual profit of £343 million for 2024, up 9% on the previous year, with passenger numbers rising 5.7% to 43.2 million. The airport recorded a turnover


of £1.13 billion – up 11% on 2023 – with more than half its revenue, £599 million, coming from charges to airlines (‘aeronautical income’) up almost 10% year on year. Retail


outlets provided £241 million (up 16%) and car park charges £148 million (up 11%). Chief executive Stewart Wingate


hailed a “successful year”, noting the results “come off the back of the announcement that the government is minded to approve our northern runway plans” and added: “We stand ready to deliver these.” Transport secretary Heidi


Alexander announced in February that she is “minded to approve” Gatwick’s £2.2 billion plan to allow regular use of its northern runway, which is currently used for taxiing. But she postponed the decision


Stewart Wingate


to October 27 after the Planning Inspectorate rejected Gatwick’s draft development consent order proposals and recommended an alternative with “a range of controls”. Gatwick has until April 24 to respond.


Carnival expects ‘stellar year’ after record results


Ian Taylor


Carnival Corporation reported record results last week for the three months to the end of February and raised its full-year results forecast, despite growing economic concerns on both sides of the Atlantic. Chief executive Josh Weinstein


rebuffed analysts’ concerns over declining consumer confidence, arguing: “While we’re not immune from the heightened macroeconomic and geopolitical volatility, we remain on track for another stellar year.” Carnival’s expectations had


been exceeded on “ticket prices and onboard spending”, he said, with “outperformance across the board… [and bookings] the farthest out on record, at record prices”. Quarterly revenue increased by


more than $400 million year on year to $5.8 billion, leaving a quarterly operating profit of $543 million


46 27 MARCH 2025


been driving things forward. Our European brands are outperforming. “We’re better booked than we


Josh Weinstein


– almost double that of a year ago – and a net loss of $78 million against a $214 million loss the previous year. Customer deposits reached a first-


quarter record of $7.3 billion. Weinstein described it as


“a fantastic quarter”, with pricing at “historic highs” even when adjusted for inflation, despite “heightened economic and geopolitical uncertainty [and] flat capacity growth”. He acknowledged concerns


about the economic outlook, noting: “There is a lot of volatility in the backdrop. [But] Europe has


have ever been, and we have no capacity growth. We’re generating demand well in excess of our remaining inventory.” Asked whether there was any


evidence of consumers “trading down”, Weinstein said: “We offer tremendous value when we compare cruise with land [holidays]. We’re carrying more new-to-cruise customers than ever. New-to-cruise growth was multiple times the growth in capacity in the last quarter.” “We aren’t taking the current


background lightly,” he insisted. “Huge value for money is a strength. It’s about who is willing to pay the most to get on a ship.” He added: “We’re different from


airlines and hotels. We don’t rely on business [travel]. People want to take their holidays even more when things get stressful.”


travelweekly.co.uk


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