Heathrow’s boss has warned its owners “cannot wait forever” for the Prime Minister’s backing for its third runway plans as he said demand continues to outstrip capacity despite a fall in passenger numbers last month.
Chief executive Thomas Woldbye told the Financial Times newspaper the London airport’s backers could reassess their £33 billion plans if Andy Burnham does not give his commitment to the runway project.
The hub’s investors – including the Qatar Investment Authority, Saudi Arabia’s Public Investment Fund and China Investment Corp, among others – reportedly must decide in the new year whether to submit a formal planning application for the runway.
In his interview with the FT, Mr Woldbye said: “Our shareholders would like to do this.
“They do think that things are taking a long time, and so far they have decided to be OK with that… But of course we cannot wait forever.”
He added: “At some point in time we need a level of certainty.
“I think by the end of the year we’ll be looking and saying: ‘Let’s assess this, let’s take stock and see where we are.’”
In its latest passenger traffic update on Monday, Heathrow reported a 2.3% drop year-on-year in September to 7.2 million, driven by a 20.1% plunge in those from the Middle East due to the Iran war.
UK passengers were also lower, down 4%, with a 1.2% fall for those from the European Union.
But Mr Woldbye said on reporting the figures that demand continues to outstrip capacity despite last month’s drop in passenger numbers and insisted the debate over its third runway have “been settled” in support of the expansion project.
On Wednesday, he is due to appear in front of the Transport Select Committee as it scrutinises the Heathrow expansion plans.
He said: “The debate about whether the UK needs additional hub airport capacity has been settled.
“Businesses, trade unions, regional airports, airlines and politicians agree that better global connections are critical if the UK is to compete, trade and grow.”
He added: “This is not simply an investment in an airport.
“It is an investment in the UK’s future competitiveness. At a time when other international hubs continue to grow and attract new routes, this country has an opportunity to strengthen its global connections and unlock growth in every nation and region.”
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