Thomas Woldbye, chief executive of Heathrow Airport, has cautioned against rejecting expansion plans for a third runway, describing such a decision as a “huge missed opportunity” for the United Kingdom. Speaking on BBC Radio 4’s Today programme, Woldbye expressed uncertainty about the government’s stance on the long-debated project and indicated that investors would direct capital toward airport developments outside the country if expansion at Heathrow proved unfeasible.
The airport’s ownership consortium, which includes French private equity firm Ardian, the Qatar Investment Authority, Saudi Arabia’s Public Investment Fund, and the China Investment Corporation, would reallocate funds internationally rather than domestically if unable to proceed with the runway project, according to Woldbye. He emphasized that these are private investments rather than public funds, meaning their redirection away from the UK would constitute a loss of economic opportunity. A decision regarding the investment timeline is anticipated in the new year.
The Department for Transport stated it continues to review consultation responses and is determining appropriate next steps. Government officials noted support for airport expansion nationally where it can advance economic growth while satisfying environmental requirements. They cited potential economic benefits of approximately £40 billion across the country from Heathrow expansion.
The third runway proposal has generated sustained controversy over decades, facing opposition from residents, politicians, and environmental advocates. The project would necessitate demolishing hundreds of homes, diverting waterways, and tunneling the M25 motorway, with an estimated construction cost of £33 billion. The runway was originally scheduled to open by 2035 but has been tentatively pushed to 2039 due to planning and regulatory considerations.
Prime Minister Andy Burnham has not clearly indicated his position, previously stating the matter should be decided by Londoners while noting his past opposition to the scheme as Mayor of Greater Manchester. Woldbye expressed hope for government backing and highlighted that the expansion is supported by unions and would benefit regions throughout the United Kingdom through supply chain connections.
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