During the Webinar that was held last week our MD was asked whether activity in London was picking up. The following slides give an indication of two key factors that affect mobility in London. These are the use of public transport and flight activity.
As expected, the usage of buses and the tube fell dramatically in March 2020. By summer it started picking up, then fell again in January 2021. In the past months we have started to see the return to the office and travel in general with buses operating at 60% of pre-Covid capacity. Tubes are operating at just above 50% of per covid levels.
We expect this trend to continue. By Q1 2022 activity should reach pre-covid levels.
The same trend is being seen in relation to flights to and from Heathrow. Like with public transport there was a severe drop in flights during the various lockdowns but since February this year the trend is positive.
As at end of August flight activity at Heathrow reached 50% of pre-covid level and this is expected to increase further in the months ahead.
