Heathrow’s boss has told Sky News of his hopes a third runway can be built by 2035, declaring it will not need public funding.
Thomas Woldbye was speaking as the UK’s biggest airport announced a “once-in-a-generation investment”, beginning this year, to improve existing terminals and boost passenger numbers.
The development is separate from a new runway – which the government recently announced support for.
But both will be funded by Heathrow shareholders, with airlines and customers charged for the expanded services.
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As part of the imminent investment, the capacity of terminals two and five will be increased and the layout of the airfield will be reconfigured in a bid to improve punctuality and to increase the number of aircraft stands.
Mr 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.”
More on Heathrow Airport Related Topics: Heathrow AirportProposals for a third runway will be submitted to the government “by summer”, the airport said, after Chancellor Rachel Reeves backed the expansion as part of her aim of growing the economy.
The support is seen as controversial as many senior Labour politicians such as London mayor Sadiq Khan and cabinet members including Energy Secretary Ed Miliband have long opposed a third runway on environmental and health grounds.
1:30 Miliband declines to criticise Heathrow expansionIt’s unclear how the additional carbon emissions from the extra flights would be compatible with the state’s legally binding 2050 emissions reduction targets.
A third runway?
Mr Woldbye told Business Live presenter Darren McCaffrey that its targets for the construction of an additional runway would be “ambitious” as the process would have to be planned, approved and overcome any legal challenges before construction could begin.
“We need to balance economic growth and prosperity with climate conditions”, he said.
“The third runway will not be delivered unless it lives up to the agreement made with the government under the Airports National Policy Statement… we need to deliver both for the economy and for the climate.”
2:33 Village would have to be levelled for new runwayRivers and the M25 road would have to be diverted and hundreds of homes would need to be demolished as part of construction.
Ryanair’s boss Michael O’Leary, who has consistently refused to use Heathrow on operational and cost grounds, has claimed the chance of it being built is “slim” but it could be 2050 even if it does get built.
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A question over the third runway’s ability to boost the economy was raised by left-leaning thinktank the New Economics Foundation (NEF).
According to its analysis, growth in the number of business travellers – who may grow commercial links – has ceased and instead, passenger growth has been driven by wealthy British residents rather than foreign tourists entering the country.
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Tap here to followThe air travel industry is also one of the poorest job creators in the economy per pound of revenue, the NEF said, while the environmental downsides of more flights are “significant”.
Steel pact
As part of interim, pre-third runway expansion Heathrow signed a charter to maximise opportunities for the use of British steel, a move welcomed by steel bosses, unions and the government.