London Heathrow’s operator will submit its proposal for a third runway to the government by the end of this month.
The proposal will set out the airport’s masterplan to secure long-term capacity growth and detail its investment programme, with a view to obtaining planning permission by the end of the current parliament – and the runway being operational in 2035.
“With Heathrow at capacity, meeting growing demand is not possible without expansion, curtailing the UK’s international competitiveness,” says the airport operator in its half-year results briefing.
Passenger numbers for the half-year to 30 June were only slightly up, at 39.9 million. While revenue for the airport’s holding company, Heathrow SP, increased by 1.9% to £1.7 billion ($2.3 billion), its adjusted operating profit stayed flat at £621 million.
Earlier in July the operator unveiled a five-year, £10 billion ($13.5 billion) privately-financed investment programme to 2031, intended to improve customer service.
This will be achieved by demolishing the old Terminal 1 and extending Terminal 2, expanding capacity and enabling the airport to handle up to 10 million more passengers. The plan, which also features a range of other enhancements, is under review by the Civil Aviation Authority.
Heathrow expects the plan to generate 15 important results, including 80% of flights departing on time, 95% of passengers waiting less than 5min at security control point, and a 20% hike in cargo capacity.
