Heathrow welcomed a record 75.7 million passengers in 2016, up one per cent on the previous year.

Passenger charges fell by one per cent at the UK’s largest airport, as Heathrow retained its position as Europe’s best hub for the third year running.

Releasing financial results today, the airport said strong financial performance would underpin expansion plans.

Heathrow was granted permission for a third runway in 2016, with planning ongoing.

Revenue at the airport stood at £2,807 million for 2016, up 1.5 per cent on last year, while adjusted EBITDA was £1,682 million, up 4.8 per cent.

Heathrow saw a three per cent increase in cargo volumes during the year, while also welcoming new services to Jakarta, San Jose, Santiago and Inverness

John Holland-Kaye, chief executive, Heathrow, said: “Last year was a milestone year for Heathrow.

“I am very proud of what our 76,000 colleagues have achieved. 

“We gave better service at lower cost to a record number of passengers and helped British businesses across the country trade more with the rest of the world.

“We have started the planning process for expansion and are preparing the skills and the supply chain we will need to build it sustainably and affordably.”