Heathrow Airport has confirmed it will submit a formal application for its long-awaited third runway this summer, with CEO Thomas Woldbye pledging it will be "100% privately funded."
Chancellor Rachel Reeves endorsed the expansion in a recent speech, calling it essential for economic growth and aiming for completion by 2035. "Her speech wasn’t just a clear commitment to get Britain building, but a rallying call to industry," said Woldbye. "Heathrow is proud to answer that call."
Reeves has also invited Heathrow to bring forward proposals and hopes to have "spades in the ground" before the next election. The government is reviewing options for expanding Gatwick and Luton, and reopening Doncaster Sheffield Airport.
Woldbye described Heathrow’s planned upgrades—including expansions at Terminals 2 and 5, airfield reconfiguration, and improved transport links—as "the largest private investment ever made in the UK’s transport network," laying the groundwork for the new runway. "No taxpayer money will be used," he emphasised.
The £14bn project, first proposed in 2018, is now estimated to cost between £42bn and £63bn. The runway would be built northeast of the existing northern runway, crossing the M25 via a proposed tunnel and impacting the communities of Harmondsworth, Sipson, and Harlington.
Support and Opposition
Reeves argues Heathrow’s expansion is vital for trade and connectivity, citing figures that 60% of UK air freight moves through the airport. "A third runway could increase potential GDP by 0.4% by 2050, with over half of that growth benefiting regions beyond London," she said.
The government estimates it could create 100,000 jobs.
However, the plans face strong opposition. Environmentalists warn the expansion will increase CO2 emissions, requiring a forest twice London’s size to offset its impact. Local communities fear displacement, with historic sites like Harmondsworth’s 1426 Great Barn under threat.
Labour figures including Sadiq Khan and John McDonnell have voiced concerns over noise, pollution, and forced relocations. McDonnell demanded clarity on the fate of displaced families and expanded flight paths.
Businesses are divided. Virgin Atlantic supports growth but calls for regulatory reform. Ryanair’s Michael O’Leary dismissed the plan as a "dead cat," urging a cut in air passenger duty instead. Paul McGuinness of the No 3rd Runway Coalition said it may be "uninvestable" due to its massive cost and legal hurdles.
The next step is a development consent order (DCO) review, public consultation, and government approval. While the government seeks to streamline regulations to avoid legal delays, the runway’s future remains uncertain.
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