Heathrow's CEO, Thomas Woldbye, emphasized that the slow progress on the third runway project, which is projected to cost £33bn, should be a concern for the nation as regulatory and governmental decisions are needed this year for construction to begin by 2029.
Heathrow Airport has reported declining profits and a slowdown in passenger growth, leading its chief executive, Thomas Woldbye, to raise concerns about the slow progress of the airport's proposed third runway. Valued at approximately £33 billion, Woldbye believes that the advancement of this project should be a major national concern, particularly as critical funding decisions and legal frameworks must be established by regulators and the government in the upcoming year. He highlighted the importance of adhering to the construction timeline set by Chancellor Rachel Reeves, which aims for work to commence by 2029.
Woldbye articulated that the Heathrow expansion involves a comprehensive development effort, essentially constructing “almost a whole new airport” in west London. This includes a projected total expenditure of £49 billion allocated for enhancing existing terminals as well as building the additional runway. The expanded infrastructure could accommodate an estimated 276,000 more flights annually, with the completion date for the new runway anticipated by 2035 at the earliest.
Lastly, Woldbye appealed for greater transparency regarding the implications of the expansion project, stating that its physical impact is similar to what has been proposed over the previous 15 years. He underscored that the project's magnitude is often underestimated, and he is urging both the public and officials to recognize the significance of timely decisions to ensure the airport's growth and sustainability in the face of increasing travel demands and economic challenges.
