Heathrow pitches a 49 billon GBP expansion plan

LONDON  - Heathrow has submitted "shovel-ready proposals" for a privately financed third runway, capable of flights taking off within a decade. The "once-in-a-generation" redesign of the runway and terminal system received government backing earlier this year - and carries a 49 billion GBP price tag.

Heathrow airport braces for a decade-long expansion. The airport just submitted details for a 3,500m northwestern runway - that already received parliamentary support - and additional infrastructure.

The project will unlock capacity "to serve up to 756,000 flights and 150 million passengers" up from 83.9 millionen passengers in 2024, Heathrow said. Besides the third runway expansion plans include a "brand-new terminal T5X, expanding Terminal 2 and three new satellite terminals".

Total project cost will amount to a rounded 49 billion GBP: 21 billion GBP for the new runway and airfield infrastructure - up from 14 billion GBP in 2018 due to construction inflation - 12 billion GBP for new terminal and stand capacity and 15 billion GBP for modernising the current airport through expanding Terminal 2 and ultimately closing Terminal 3.

"A third runway and supporting infrastructure can be ready within a decade, and the full investment across all terminals would take place over the coming decades," Heathrow said.