Heathrow boss warns investors cannot wait forever for third runway

Summarised from 2 outlets · Updated 12 Oct, 09:36 · Archive

Heathrow's chief executive has warned that financial backers may reconsider their support if the Prime Minister does not commit to the third runway expansion by year end.

Heathrow's chief executive Thomas Woldbye has warned that the airport's financial backers, including Qatar Investment Authority, Saudi Arabia's Public Investment Fund and China Investment Corp, may reconsider their involvement if Andy Burnham does not commit to the third runway expansion.

The £33 billion scheme, which includes £1.5 billion to relocate the M25, has stalled pending government approval. Woldbye told the Financial Times that shareholders 'would like to do this' but acknowledged that 'they do think that things are taking a long time'. He said: 'At some point in time we need a level of certainty' and indicated that a major reassessment would take place by year end.

Heathrow reported a 2.3 per cent drop in passengers for September to 7.2 million year-on-year, with falls of 20.1 per cent from the Middle East, 4 per cent from the UK and 1.2 per cent from the EU. Despite the downturn, Woldbye insisted that demand continues to outstrip capacity and claimed the debate over the third runway has 'been settled' in support of the expansion project.

How it is being reported

• Heathrow boss warns investors 'cannot wait forever' as he urges Burnham to back third runwayThe boss of Heathrow has claimed that the case for the airport's third runway is 'settled' but urged Andy Burnham to make a decision by the end of the year.This is Money · 12 Oct, 09:19
• Heathrow boss warns Andy Burnham airport cannot wait forever for third runwayHeathrow Airport expansion is estimated to cost £33 billion, including £1.5 billion to move the M25 to build the runwayThe Independent · 12 Oct, 08:45

In this story: Heathrow Airport · Andy Burnham · Thomas Woldbye · Qatar Investment Authority · Saudi Arabia Public Investment Fund · China Investment Corp · M25

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