Business · Companies · 3 hrs ago
Heathrow backers may reassess £33bn third runway plan
Heathrow wants to build a third runway at its London airport, in a project estimated to cost £33 billion.
Chief executive Thomas Woldbye says the airport’s investors want to proceed but cannot wait indefinitely for certainty from the government.
The proposed expansion would be privately financed and could allow Heathrow to handle 756,000 flights and 150 million passengers a year.
Labour backed the project in January 2025, but the prime minister has not confirmed support, saying it depends on consultation and the planning process.
Heathrow says demand for flights still exceeds its capacity, even though passenger numbers fell 2.3 per cent in September compared with a year earlier.
The airport aims to secure planning permission by 2029 and says construction could then take about a decade.
Major investors are expected to decide in the new year whether to submit a formal planning application.
Heathrow chief executive Thomas Woldbye says the airport’s backers may reassess the £33 billion third-runway plan if Andy Burnham does not commit to it.
Woldbye says the owners need greater certainty and “cannot wait forever” for the Prime Minister’s backing.
Investors are reportedly due to decide in the new year whether to submit a formal planning application.
The government has not confirmed its support, saying the proposal is subject to consultation and the planning process.
The expansion is projected to raise Heathrow’s capacity to 756,000 flights and 150 million passengers a year.
- Who
- Heathrow chief executive Thomas Woldbye and the airport’s investors are urging a decision. Andy Burnham has not confirmed support for the project.
- What
- Heathrow’s backers may reassess the £33 billion third-runway plan if they do not get greater certainty.
- When
- Woldbye said he expected to assess the situation by the end of 2026. Investors are reportedly due to decide in the new year whether to submit a planning application.
- Where
- Heathrow Airport, London.
- Why
- Woldbye says demand continues to outstrip capacity and the owners need certainty about the expansion.
Heathrow and its backers
Andy Burnham
Commitment
Heathrow and its backers
Woldbye says the owners want to proceed but cannot wait indefinitely for approval.
Andy Burnham
Burnham has not confirmed support and says the proposal is subject to consultation and planning.
Expansion
Heathrow and its backers
Woldbye says the debate over the need for more hub airport capacity has been settled and argues it would strengthen UK connections and competitiveness.
Andy Burnham
No opposing view on the need for expansion is directly stated; Burnham’s position on the project remains unconfirmed.
Our shareholders would like to do this.
But of course we cannot wait forever.
At some point in time we need a level of certainty.
The debate about whether the UK needs additional hub airport capacity has been settled.
Former chancellor Rachel Reeves set out Labour’s support for the third runway.
Heathrow recorded 7.2 million passengers, down 2.3% year on year.
Woldbye said the airport would assess the situation and take stock.
Woldbye is due to appear before the Transport Select Committee.
Heathrow’s investors are reportedly due to decide whether to submit a formal planning application.
- Estimated project cost
- £33 billion
- M25 relocation cost
- £1.5 billion
- Projected annual capacity
- 756,000 flights and 150 million passengers
- September 2026 passengers
- 7.2 million, down 2.3% year on year
- Planning permission target
- 2029
- Suggested opening year
- 2035, a timetable airport bosses say appears impossible to meet
Sources
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