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London’s Heathrow Airport has raised the prospect of paying its first dividend in four years after a record summer.

The airport said Wednesday its peak summer season was boosted by passengers passing through the hub en route to the Paris Olympics and going to music events. “Iconic music stars visiting the UK have led to a surge in departures at the end of summer,” the airport said.

As a result, Heathrow said a dividend payment was “likely”, while warning that such a payment was not planned at this time.

Heathrow last paid its owners a £107 million dividend in February 2020, just before Covid-19 and border closures severely disrupted global aviation. This sum was used to fund £100 million in dividends for its ultimate shareholders.

Airport ownership saw its most significant change in almost two decades in 2024, when Spanish infrastructure group Ferrovial sold the vast majority of its stake. Private equity group Ardian and Saudi Arabia’s sovereign wealth fund agreed to buy a 38 per cent stake for £3.3bn in June, with several smaller shareholders also selling.

Heathrow on Wednesday raised its forecast for annual passenger numbers to 83.8 million, up from 82.4 million in March.

The airport said it had been its busiest summer ever, with record passenger numbers in June, July, August and September. More than 30 million passengers passed through Heathrow during this period.

Almost all of the airport’s markets exceeded last year’s figures, with double-digit growth for the UK and the Asia-Pacific region.

“This summer has challenged our colleagues, our infrastructure and our airlines to cooperate more than ever before, with record numbers of passengers traveling through the world’s busiest two-runway airport,” said the director General of Heathrow, Thomas Woldbye.

Pre-tax profit for the nine months to the end of September rose 13 per cent year-on-year to £696 million.

Heathrow bosses are working on a new plan to expand the airport, but are prioritizing relatively minor infrastructure improvements to gradually increase its capacity before deciding whether to continue long-standing plans and controversial third track.

The airport is limited to 480,000 flights per year, but improving infrastructure and encouraging airlines to use larger planes would allow more passengers to travel without exceeding the cap.