Heathrow’s plan to speed up delivery of a new runway has been blocked by the Civil Aviation Authority.
The airport’s request to lift spending from £650m to £2.4bn before it planning consent is granted for their third runway was blocked on the grounds that passenger charges would rise to cover the cost should the consent not be granted. The airport now expects to complete a third runway between 2028 and 2029.
In response to the CAA’s consultation on early costs published today, a Heathrow spokesperson said: “The CAA’s announcement is an important milestone in expanding Heathrow and connecting all of Britain to global growth. It increases certainty for our local communities and for the job creation, increased trade and lower airfares that expansion delivers. We will now review the detail to ensure it will unlock the initial £1.5 – 2 billion of private investment over the next two years at no cost to the taxpayer. Whilst this is a step forward, the CAA has delayed the project timetable by at least 12 months. We now expect to complete the third runway between early 2028 and late 2029.”