Heathrow Boss Warns Against Missing "Huge Opportunity" on Third Runway

The expansion of Heathrow Airport, including the construction of a third runway, presents a "huge missed opportunity" for the United Kingdom if not pursued, according to Thomas Woldbye, the airport's chief executive.

Woldbye told BBC Radio 4's Today programme that clarity on the government's position regarding the project would be beneficial, especially following recent comments from Prime Minister Andy Burnham, who has not explicitly stated his support for the expansion.

The Heathrow chief executive emphasized that if the airport's owners are unable to invest in a third runway, the capital "will be invested somewhere else in the world." He indicated that a decision regarding the project's future is expected in the new year.

The Department for Transport stated it is currently reviewing responses to a consultation and is "considering the appropriate next steps." A spokesperson for the department added that the government supports airport expansion "across the country where this can contribute to growth and opportunity, while meeting the tests on the environment," noting that expanding Heathrow has the potential to deliver "around £40 billion in economic benefits across the country."

The proposal for a third runway at Heathrow has been a subject of debate for decades, facing significant opposition from local residents, politicians, and environmental campaigners. Last year, then-chancellor Rachel Reeves announced government backing for the expansion, describing a third runway as "badly needed" and stating the government "could not duck the decision any longer."

Heathrow Airport is owned by a consortium of investors, including French private equity firm Ardian, the Qatar Investment Authority, Saudi Arabia's Public Investment Fund, and the China Investment Corporation. Woldbye highlighted that "if they cannot invest in Heathrow... then that money will be invested somewhere else in the world," adding that this would be a "sad, huge missed opportunity for this country."

The construction of a third runway would necessitate the demolition of hundreds of homes, the diversion of rivers, and the rerouting of the M25 motorway between junctions 14 and 15 through a tunnel. The estimated cost for this project is £33 billion.

Currently, Heathrow handles over 80 million travelers annually with its four passenger terminals and two runways. The introduction of a third runway could increase the number of flights from the current cap of 480,000 per year to 720,000, averaging nearly 2,000 flights per day. This increase in traffic is projected to significantly boost revenue for the airport's owners and provide an "huge economic boost" and create jobs, according to Heathrow's arguments.

The new runway was initially scheduled to open by 2035, but Heathrow has since suggested a potential delay to 2039 due to planning and regulatory issues.

Prime Minister Andy Burnham, who opposed the scheme as Mayor of Greater Manchester, has stated that the matter is "for London and Londoners" and that it is not appropriate for him to comment directly following the consultation. Woldbye expressed hope that the prime minister would ultimately support the project, noting its backing from trade unions.

Woldbye mentioned that he has not yet met with the current Chancellor John Healey but plans to emphasize the airport's significant economic contributions, stating that Heathrow is currently operating at full capacity. "That means we will stop contributing or stop growing that contribution," he said. "If we want to avoid that, we need to now take this decision, move forward and continue the work of the previous government to move at speed and deliver this."

The Department for Transport is finalizing its Airports National Policy Statement, which guides decisions on new runway approvals. The statement was last updated in 2018. Heathrow is preparing a planning application, intended for submission within the next couple of years, but any decision will be subject to the government's national policy statement.