Heathrow announces largest private investment programme in its history
Heathrow CEO Thomas Woldbye has announced the largest private investment programme in Heathrow’s history and confirmed the airport is developing proposals for a third runway.
Woldbye said, “This privately funded programme will upgrade existing infrastructure while laying the groundwork for a third runway, boosting UK investment and economic growth, with tangible benefits felt this year. Heathrow is proud to answer the Chancellor's call to get Britain building.
"A third runway is critical for the country’s future economic success, and I confirm we will submit our plans for a third runway to Government this summer. Ahead of then, as part of a phased expansion programme and supported by the Government’s clear backing, I am today confirming multi-billion-pound investment plans, 100% privately funded, to upgrade our terminal buildings, enhance passenger experience, and improve resilience and sustainability.”
Full details of the investment programme, phasing, and the pathway to a third runway will be part of Heathrow’s initial proposals submitted to Government this summer, but confirmed plans will include new investment in:
Terminal infrastructure: Heathrow will work with airlines and the regulator to finalise plans to invest in the capacity of Terminal 2 and make changes to optimise and increase passenger capacity in Terminal 5.
Improving customer experience and punctuality: Reconfigure and improve the layout of the airfield, increasing the number of aircraft stands, to improve resilience and punctuality.
Local transport connections and sustainable travel: The investment programme includes plans to further improve bus and coach connections to encourage sustainable and active travel options and benefit our local communities.
Sustainability: New infrastructure will have improved environmental credentials and will use more sustainable sources of power, supporting the ambitious targets set out in Heathrow’s Connecting People and Planet sustainability strategy.
This privately funded programme to transform Heathrow’s current infrastructure, with early tangible benefits felt this year, will start with projects within the airport’s existing boundary and work towards a third runway.
The plans, says Heathrow, will help the airport become more efficient, more reliable and more sustainable for all passengers and airlines. These new investments build on the £2.3bn accelerated investment announced by Heathrow in December to improve service, resilience, passenger experience, and sustainability through multiple projects over the next two years.
In his address Woldbye committed that Heathrow’s plans will demonstrate that the project can deliver for the economy and the environment. He said, “With strict environmental safeguards, expanding Heathrow will prove that the UK economy can be grown responsibly and deliver on commitments to future generations. This project can only go ahead if we meet the rules on noise, air quality and carbon that the Government sets out in the Airports National Policy Statement – it’s as simple as that.
“Even though we’re serving more passengers than ever before, our noise footprint is smaller and we’re also using more sustainable aviation fuel than ever before. I want to assure you that we are committed to listening and working with our local communities to provide them with the certainty they deserve, ending years of doubt.”