March 20, 2020 / 7:19 AM / 15 days ago

Britain's Heathrow to shrink operations during coronavirus

LONDON, March 20 (Reuters) - Britain’s Heathrow Airport said it would shrink its operation as part of a plan to keep open for some cargo and passenger flights during the coronavirus crisis, which has brought most air travel to a standstill.

Heathrow, which is usually Europe’s busiest airport, said it would cut costs to preserve cash as it warned its financial performance would be severely affected by the current situation.

Owned by Spain’s Ferrovial, the Qatar Investment Authority, China Investment Corp and others, Heathrow said it had a 12-month liquidity horizon through cash and committed facilities of 3.3 billion pounds available.

Airlines and airports are expecting a range of government support measured to be announced in the coming days. (Reporting by Sarah Young; editing by Kate Holton)

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