Heathrow Boss Urges UK Prime Minister to Back Third Runway Decision

The chief executive of Heathrow Airport, Thomas Woldbye, has urged the UK Prime Minister to explicitly back the airport's proposed third runway, warning that investors "cannot wait forever" to proceed with the £33 billion expansion. Investors, including sovereign wealth funds from Qatar and Singapore, are reportedly set to decide early in the new year whether to submit a formal planning application.

Woldbye stated that while investors have been patient, a decision point is approaching. "At some point we need a level of certainty. I think by the end of the year we'll be looking and saying: 'Let's assess, let's take stock and see where we are'," he told the Financial Times.

Heathrow has faced delays, pushing the earliest possible opening date for the third runway from 2035 to 2039. The airport's owners are seeking governmental approval of the Heathrow Expansion National Policy Statement, a policy framework published by the government in June, before any planning application can move forward. A parliamentary vote on this statement is expected before the end of next month.

While unions, airlines, regional airports, and investors have reportedly shown support for the expansion, Prime Minister Andy Burnham has previously expressed concerns, suggesting the project diverts investment away from northern England. Heathrow contends that the lack of additional capacity forces airlines to choose overseas hubs, impacting UK trade and connectivity. "The debate about whether the UK needs additional hub airport capacity has been settled," Woldbye asserted, noting broad agreement on the need for better global connections to foster UK competitiveness.

Heathrow has also presented figures indicating a 2.3% year-on-year drop in passengers in September, largely attributed to a decline in travel from the Middle East. Despite this, the airport maintains that demand still exceeds its current capacity. Cargo traffic, however, saw a 5% increase year-on-year, which Heathrow argues demonstrates the expansion's potential to boost export capacity by 50%.

Woldbye emphasized that the private investment is available, the benefits are understood, and the government has indicated that expansion can be achieved within net-zero targets. He stated, "After decades of discussion, Parliament now has the opportunity to unlock a project that can deliver lasting benefits for generations to come. We are ready to deliver it."

Polling conducted by Heathrow across nine local boroughs indicated that 68% of over 9,000 residents support the expansion, which the airport estimates would create 100,000 jobs. Burnham has previously stated that the decision on Heathrow's plans should rest with those living near the London airport.