Heathrow feels the pinch as it awaits expansion decision

American shoppers are spending less at Heathrow
American shoppers are spending less at Heathrow
ANDY RAIN:EPA

Heathrow, Europe’s largest airport, is running out of steam, according to the latest financial and operational data, as it awaits a decision on whether it will be allowed to build at least one new runway.

Five of its seven key markets are slowing, rate of spending by passengers has been pegged back and the airport is braced for a significant brake in revenues from charging airlines as a tough five-year regulatory settlement kicks in.

Heathrow, owned by international investors, said that pre-tax profits for the first nine months of the year fell from £266 million to £58 million with a rise in revenues up from £1.8 billion to £1.98 billion, mostly eaten up by rising costs and rising interest payments.

At a comparable underlying earnings