Heathrow Airport is deep in the middle of a £1.4 billion security overhaul—and it's starting to show on the bottom line. In the first half of the year, profit before tax slid 37% to £203 million, with CFO Sally Ding pointing to two key culprits: rising interest rates and the costly rollout of next-gen CT scanners. These machines promise faster lines and no more pulling laptops or liquids out at security—but getting them installed across the UK's largest hub is proving to be a logistical headache.
CEO Thomas Woldbye didn't sugarcoat it. Heathrow has more scanners to replace than all other UK airports combined. And because they're swapping out just one or two at a time to avoid disrupting travelers, the pace is slow by design. Woldbye called it “hugely complicated,” and it's not hard to see why. While smaller airports like Edinburgh and Birmingham have already scrapped the 100ml liquid rule, Heathrow is still working through the checklist before it can do the same.
The UK government has set a June 2025 deadline for major airports to finish the transition. Heathrow says it's still aiming for compliance but hasn't committed to a firm date yet. Meanwhile, most passengers are already passing through the upgraded scanners, but until the job is done, the old liquid restrictions stay in place. For investors, this is one to watch: a necessary infrastructure investment with long-term upside—but near-term pressure on earnings and timelines.
