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Heathrow sees a resurgence in travel, Deliveroo’s growth slowdown

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Yahoo Finance Contributor, Lucy Harley-McKeown, joins Yahoo Finance to discuss how the travel recovery is leading to a resurgence in travelers going through Heathrow airport and how reopening efforts in the UK are affecting Deliveroo’s growth.

Video Transcript

- Let's turn our attention now overseas, where we got some positive commentary from the leadership at Heathrow Airport. Yahoo Finance's Lucy Harley-McKeown joins us for that conversation. Lucy?

LUCY HARLEY-MCKEOWN: Hi. Yeah, as you say, the travel recovery has started in earnest for Britain's Heathrow Airport, which said passenger numbers surged in July. It saw its busiest month since March, 2020. And as one of Europe's busiest travel hubs, that's pretty positive for the travel industry.

However, overall numbers are still down 80% on pre-pandemic levels, as many barriers remain to fully unlocking international travel. As of August, fully-vaccinated people can travel to the UK from the US and the European Union. Heathrow said that there was a long road to recovery ahead, and bosses urged the US to ease restrictions on travelers coming in from the UK.

- And Lucy, on the flip side, as people are starting to travel a bit more, they're not doing, perhaps, as much of the things that they were doing as they were shut down. Maybe they're not ordering food as much. And we got some news on that front from Deliveroo.

LUCY HARLEY-MCKEOWN: Yeah, that's correct. So delivery has been-- I mean, it's strong, had a strong order growth in the first Q, first quarter of 2021, but that's started to slow down as restrictions ease. People are kind of opting to go out for meals more than get takeaways, and therefore, their kind of growth is slowing. CEO Will Shu said that Deliveroo is spending more money on marketing to acquire new customers and to drive subscribers to its Plus service. So delivery forecasts remain the same, but it said it expected customer behavior to moderate later in the year. And investors have been sort of hard to convince on delivery since the IPO, so shares fell on Wednesday following the news.

- All right, Yahoo Finance's Lucy Harley-McKeown with the latest from UK markets.