Speaking at British Steel Scunthorpe, Heathrow CEO Thomas Woldbye announced the largest private investment programme in Heathrow’s history and confirmed the airport is developing proposals for a third runway. It will share these with the UK Government by summer 2025.
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."
He added: "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. This is vital investment and will ensure Heathrow remains globally competitive.”
Full details of the investment programme, phasing, and the pathway to a third runway will be part of Heathrow’s initial proposals submitted to the UK Government this summer, but newly confirmed plans will include new investment in terminal infrastructure, improving customer experience and punctuality (including reconfiguration of the airfield layout), upgrades to local transport connections and sustainable travel, and sustainability.
Early tangible benefits of the investment will be felt this year, starting with projects within the airport’s existing boundary and working towards a third runway.
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.
As a sign of its commitment to ensuring positive benefits nationwide, Heathrow also signed the UK Steel Charter. The charter aims to maximise supply chain opportunities for UK steel producers.
Thomas Woldbye 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.”
