Heathrow Airport is crafting a new proposal for a third runway, aiming to secure support from the Labour government as it navigates unprecedented passenger numbers that are pushing its existing capacity to its limits.
In the first half of 2024, the UK's busiest airport handled almost 40 million passengers, hitting its most crowded day ever on June 30th. Thomas Woldbye, Heathrow's CEO, anticipates another record-breaking day soon and welcomes the new government's positive outlook on aviation and growth.
While Woldbye stated the airport is focused on optimising its existing infrastructure, plans for a new runway are also advancing. "We're developing a plan that includes a third runway and one that doesn't, as many external factors still impact the viability of a third runway," he explained. "London needs the extra capacity a third runway would bring."
However, Woldbye emphasised the immediate need for capacity improvements with the existing two runways. "A third runway won't be operational this year or even in the next five to ten years. So our priority is to maximise the capacity of our existing runways," he said. "We're ready to discuss expansion with the government and are glad they recognise the importance of aviation and Heathrow specifically."
Although Heathrow received government approval for a third runway in 2018, legal challenges and the significant drop in passenger numbers during the Covid-19 pandemic caused delays. Chancellor Rachel Reeves has expressed support for Heathrow's expansion, though Labour's official stance requires meeting "four tests" related to economic benefits, pollution, noise, and climate goals.
Woldbye suggested that revised plans for the runway might be postponed due to uncertainties about Heathrow's ownership. "It would be wise to finalise the long-term shareholders before making such big decisions," he said. Ferrovial, the largest shareholder, initially intended to sell its entire stake but might now keep a small portion. A recent agreement indicates that new buyers will hold a combined 37.5%, with Ferrovial retaining 5%.
Despite the rapid post-pandemic growth, Woldbye expects high demand for flights to continue. He confirmed that Heathrow experienced minimal disruption from the recent global IT outage and was prepared for record passenger numbers, supported by 90,000 employees across companies based at the airport. "We have the highest level of resilience ever, with improvements in punctuality and baggage handling," he stated. However, he warned that "straining the system to its maximum makes recovery more difficult if problems arise."
