London Heathrow Airport confirmed today that their plans to expand Heathrow by the creation of a third runway would be delayed.
London Heathrow airport third runway delayed
Heathrow has said its project to build a third runway has been delayed by at least 12 months. Heathrow now expects to complete its third runway between early 2028 and late 2029 instead of in 2026 as they previously projected.
Civil Aviation Authority or the CAA which regulates the country’s aviation industry released details of a new consultation document. This document revealed information on costs that Heathrow Airport in order to retain the 2026 target it would need to bring forward the timing of certain spending, and that total early costs would need to be about £2.4 billion. The CAA has approved Heathrow’s proposal to increase its spending on planning costs from £265m to £500m. Heathrow has said that they will seek to unlock an initial £1.5 billion to £2 billion private investment to progress its plans.
“We will now review the detail to ensure it will unlock the initial £1.5bn to £2bn of private investment over the next two years at no cost to the taxpayer. While this is a step forward, the CAA has delayed the project timetable by at least 12 months. We now expect to complete the third runway between early 2028 and late 2029.” A spokesperson for Heathrow Airport said
The CAA has refused Heathrow’s request to lift spending from £650m to £2.4bn before it even gets planning consent. The CAA is also concerned that passengers will end up paying the cost if Heathrow does not get permission to expand and that they think the best approach is to limit early construction costs to £1.6 billion. Heathrow is now expecting the new runway to be finished between 2028 and 2029.
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