Heathrow reported close to 7.3 million terminal passengers in October 2026, with total traffic down 1.0% year-on-year but cargo volumes growing 5.8% over the same period. The airport also announced a series of expansion-related milestones during the month, including a Memorandum of Understanding with Welsh steelmaker 7 Steel UK and a new agreement with the RABA Group, which represents close to 40 regional and business airports. The update reinforces Heathrow's positioning as the UK's principal international gateway as its third runway expansion programme continues to build momentum.

Key Points

  • Heathrow Funding Limited (44BI) published its October 2026 business and traffic commentary on 11 November 2026
  • Terminal passengers reached approximately 7.3 million in October 2026, with total cargo volumes of 145,137 metric tonnes, up 5.8% year-on-year
  • Two new MoUs signed in October: one with 7 Steel UK for expansion supply chain purposes, and one with the RABA Group covering close to 40 regional and business airports
  • Investors may wish to monitor the progress of the third runway policy and regulatory framework referenced by CEO Thomas Woldbye

October 2026 Passenger and Air Movement Data Shows Mixed Regional Performance

Total terminal passengers at Heathrow reached 7,296,000 in October 2026, a decline of 1.0% compared with the prior year period. Asia/Pacific was the strongest-performing market, rising 7.5% to 968,000 passengers, while the Middle East saw the sharpest contraction, falling 21.0% to 563,000. North America, Heathrow's largest long-haul market, recorded 1,867,000 passengers, up 1.1%. Air transport movements totalled 39,809 in October, down 3.4% overall, with Middle East movements declining 26.5% and Asia/Pacific movements growing 10.2%, reflecting diverging route-level demand patterns across the network.

Cargo Growth of 5.8% in October Reinforces Heathrow's Role as the UK's Busiest Port

Heathrow handled 145,137 metric tonnes of cargo in October 2026, representing year-on-year growth of 5.8%. North America and Asia/Pacific were the primary drivers, with volumes rising 11.6% and 15.4% respectively in those markets. For the January-to-October 2026 period, cumulative cargo totalled 1,338,794 metric tonnes, up 2.0%. The announcement describes Heathrow as the UK's most valuable port, and the cargo data supports that characterisation, with the airport continuing to serve as a critical trade gateway. Middle East cargo volumes fell 14.7% in October, partially offsetting growth elsewhere.

MoU with 7 Steel UK and RABA Group Agreement Signal Expansion Supply Chain Progress

During October, Heathrow signed a landmark MoU with 7 Steel UK, placing the Welsh steelmaker at the centre of the airport's expansion supply chain and committing to the use of UK-manufactured steel. Separately, Heathrow secured a new MoU with the RABA Group, whose membership spans close to 40 regional and business airports, formalising a joint commitment to protect domestic connectivity during the expansion process. Heathrow also hosted its second regional business summit, held in Liverpool, as part of an ongoing programme connecting regional businesses to the airport's multibillion-pound supply chain.

CEO Thomas Woldbye Sets Out Nationwide Economic Case for Third Runway

CEO Thomas Woldbye stated in the announcement that expansion represents "an indisputable case for growth across the entire UK," citing benefits for manufacturers, entrepreneurs, and exporters across every nation and region. The announcement states that 60% of the economic growth generated by a third runway is projected to be delivered outside London and the South East, though Heathrow did not disclose the total economic value figure underpinning that estimate in this announcement. Woldbye noted that private investment is available and called on ministers to provide an appropriate policy and regulatory framework to unlock expansion.