Multi billion pound investment taxis onto Heathrow runway

The announcement comes as the airport prepares for expansion.

Heathrow airport is set to announce a multi-billion pound investment as it prepares its proposal for a new runway.

In a speech on Wednesday, chief executive Thomas Woldbye will unveil funding for upgrades and expansion, such as boosting the capacity of Terminals 2 and 5, reconfiguring the layout of the airfield, and boosting bus and coach connections.

It comes after Chancellor Rachel Reeves used a speech on growth last month to give her support for a third runway at Heathrow.

Mr Woldbye is expected to say: “This privately-funded programme will upgrade existing infrastructure while laying the groundwork for a third runway, boosting UK investment and economic growth, with tangible benefits felt this year.

“Heathrow is proud to answer the Chancellor’s call to get Britain building.”

He will add: “A third runway is critical for the country’s future economic success, and I confirm we will submit our plans for a third runway to Government this summer.

“Ahead of then, as part of a phased expansion programme and supported by the Government’s clear backing, I am today confirming multi-billion pound investment plans, 100% privately-funded, to upgrade our terminal buildings, enhance passenger experience, and improve resilience and sustainability.

“This is vital investment and will ensure Heathrow remains globally competitive and a jewel in the country’s crown.”

Mr Woldbye will insist the project can be carried out “responsibly” because of “strict environmental safeguards”.

He will say: “This project can only go ahead if we meet the rules on noise, air quality and carbon that the Government sets out in the Airports National Policy Statement – it’s as simple as that.

“Even though we’re serving more passengers than ever before, our noise footprint is smaller and we’re also using more sustainable aviation fuel than ever before.

“I want to assure you that we are committed to listening and working with our local communities to provide them with the certainty they deserve, ending years of doubt.”

Mr Woldbye will make the speech at British Steel’s Scunthorpe plant, which is the only facility making primary steel in the UK.

He will sign the UK Steel Charter, which aims to maximise supply chain opportunities for UK steel producers.

Terminal 5 – which opened in 2008 – required 80,000 tonnes of steel.

Detailed plans for the third runway are still being prepared.

UK Steel director general Gareth Stace said: “Heathrow signing the UK Steel Charter is a major vote of confidence in UK steelmaking and British businesses full stop.

“With the airport embarking on its largest-ever private investment programme, this commitment unlocks significant opportunities for UK steel producers and supply chains to help deliver critical national infrastructure.”

On Tuesday, the airport said it recorded the busiest January in its history.

More than 6.3 million passengers travelled through its four terminals last month.

That is up more than 5% from 6.0 million in January 2024.

The airport said transatlantic travel was a “key contributor” to the growth.

More than 1.2 million passengers travelled between Heathrow and the US in January, up 8% compared with a year earlier.

Published: 11/02/2025 by Radio NewsHub