Heathrow’s boss has warned its owners “cannot wait forever” for the Prime Minister’s backing for its third runway plans as he said demand continues to outstrip capacity despite a fall in passenger numbers last month.
Chief executive Thomas Woldbye told the Financial Times newspaper the London airport’s backers could reassess their £33 billion plans if Andy Burnham does not give his commitment to the runway project.
The hub’s investors – including the Qatar Investment Authority, Saudi Arabia’s Public Investment Fund and China Investment Corp, among others – reportedly must decide in the new year whether to submit a formal planning application for the runway.
Thomas Woldbye has urged a decision on a third runway by the end of the year (Screengrab/PA)
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In his interview with the FT, Mr Woldbye said: “Our shareholders would like to do this.
“They do think that things are taking a long time, and so far they have decided to be OK with that… But of course we cannot wait forever.”
He added: “At some point in time we need a level of certainty.
“I think by the end of the year we’ll be looking and saying: ‘Let’s assess this, let’s take stock and see where we are.’”
In its latest passenger traffic update on Monday, Heathrow reported a 2.3% drop year-on-year in September to 7.2 million, driven by a 20.1% plunge in those from the Middle East due to the Iran war.
UK passengers were also lower, down 4%, with a 1.2% fall for those from the European Union.
But Mr Woldbye said on reporting the figures that demand continues to outstrip capacity despite last month’s drop in passenger numbers and insisted the debate over its third runway have “been settled” in support of the expansion project.
On Wednesday, he is due to appear in front of the Transport Select Committee as it scrutinises the Heathrow expansion plans.
He said: “The debate about whether the UK needs additional hub airport capacity has been settled.
“Businesses, trade unions, regional airports, airlines and politicians agree that better global connections are critical if the UK is to compete, trade and grow.”
He added: “This is not simply an investment in an airport.
“It is an investment in the UK’s future competitiveness. At a time when other international hubs continue to grow and attract new routes, this country has an opportunity to strengthen its global connections and unlock growth in every nation and region.”
Andy Burnham has refused to confirm his support for the third runway, saying it is subject to a consultation and planning process (Christopher Furlong/PA)
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Despite the Labour government backing expansion of the airport before Mr Burnham took office, the Prime Minister has refused to confirm his support, saying it is subject to a consultation and then the planning process.
Labour’s support for the third runway was set out by former chancellor Rachel Reeves in January 2025.
Estimated to cost £33 billion, including £1.5 billion to move the M25 to build the runway, the scheme is expected to be fully privately financed.
It would see Heathrow’s capacity increase to 756,000 flights and 150 million passengers per year.
Ms Reeves had suggested the runway could be open in 2035, but airport bosses have told ministers that timetable appears impossible to meet.
The airport aims to get planning permission by 2029, and from that point believes building the new runway within a decade to be a reasonable goal.