UK Chancellor of the Exchequer Rachel Reeves has approved the construction of a third runway at London Heathrow Airport (LHR). The new runway shall be completed by 2035, and according to the airport’s boss will need no public money to be completed. 

According to Heathrow authorities’ official statements, investments in the new runway and the airport’s development will be funded by the airport’s shareholders, airlines, and passengers who will benefit from new services. 

„This privately-funded programme will upgrade existing infrastructure while laying the groundwork for a third runway, boosting UK investment and economic growth, with tangible benefits felt this year,” said Thomas Woldbye, the Group CEO at Heathrow Airport. 

The projects for the third runway shall be submitted to the government by summer. 

The government’s support seems controversial because senior Labour politicians, such as Sadiq Khan and Ed Miliband, have long opposed the project. 

The investment was also criticised by Ryanair’s boss Michael O’Leary, who said that it would not be completed until 2050. It is by his decision based on London Airport’s fees that Ryanair is not using it consistently. 

The investment was supported by the British Chancellor of the Exchequer Rachel Reeves.

In her speech on 29 January 2025, she said that the new runway will be delivered in line with the government’s legal, environmental and climate objectives.

Reeves also announced that the government will invest £63min in the development of sustainable aviation fuel (SAF) to provide cleaner fuel to the aviation sector and help reduce the overall environmental impact of aviation.

Heathrow is currently capped at 480,000 flights a year. After the investment is concluded it shall increase this number to 720,000 flights a year.

Source: Sky News, dlapilota.pl

Photo: Caroline Byczynski

Tomasz Modrzejewski