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Planning permission for a third runway at London Heathrow should be granted “before the end of this parliament,” airport bosses have said.
In 2019, Heathrow predicted in a third runway could be in use by 2026, but legal challenges plus the Covid pandemic put the project on ice.
Were permission to be granted in 2029 – the final year of the current parliament – the likely opening date of a third runway to the northwest of the existing pair would be in the late 2030s.
Serious legal challenges are expected on the environmental impact of expansion, from noise and road traffic growth to climate change.
Reporting record passenger numbers and a 10 per cent increase in cargo in 2024, Heathrow said growth will continue with airlines using “larger, fuller aircraft”.
The airport handled 83.9 million passengers in 2024 and is operating very close to its annual limit of 480,000 take-offs and landings. At peak times there is a landing and a take-off every 80 seconds.
A third runway could see traffic increased by more than half to 740,000 movements.
Despite record passenger numbers, Heathrow’s total revenue declined 3.5 per cent to £3.6bn, as a result of a lower airport charge set by the Civil Aviation Authority (CAA). Profits before tax, though, rose by 31 per cent to £917m.
The airport is about to pay its first dividend in five years. Shareholders – led by the Qatari and Saudi sovereign wealth funds and a French private equity fund, Ardian – will receive £250m.
Heathrow says there were “improvements in service” during 2024, with “stable security wait times, more on-time departures and better baggage performance”.
The airport’s chief executive Thomas Woldbye said: “2024 underscores why Heathrow is the UK’s gateway to growth. Our colleagues welcomed a record number of passengers with good service, cargo volumes increased 10 per cent boosting British trade and we invested over £1bn to improve facilities and boost resilience which creates more value for customers at Britain’s front door.”
“Securing future economic growth means investing in the infrastructure that powers it. Over the next decade, we will be making the largest private investment in the UK’s transport network which will modernise Heathrow and unlock new capacity for growth.
“This will grow the economy, make Heathrow better for all of our customers and give the UK a competitive world-class hub fit for the future. This is an exciting time for our customers, our colleagues and the country and we’re looking forward to working with the government to deliver it.“
The UK’s second-busiest airport, London Gatwick, is expecting to hear on Thursday whether ministers will approve its standby runway being brought into permanent use. Gatwick’s chief executive, Stewart Wingate, told The Independent’s travel podcast that, were permission granted, both runways could be in operation by the end of the 2020s.
