Heathrow outlines £10 billion expansion plans

It is aiming to handle an extra 10 million passengers annually by 2031.

This is at the heart of its 2027–2031 business proposal, which it submitted to the Civil Aviation Authority recently.

The airport says it would require passenger charges being set at an average of £33.26.

That is a double digit increase on the current agreed fee schedule.

The expansion plan would see new lounges, restaurants and shops.

Space would be created by demolishing the old Terminal 1, extending Terminal 2, and also constructing a new southern access road tunnel.

London Heathrow CEO Thomas Woldbye said: “We’re making good progress on our strategy to become an extraordinary airport – having become Europe’s most punctual major airport so far this year.”

“To compete with global hubs, we must invest. Our five-year plan delivers the better service passengers expect and unlocks the growth capacity airlines want.”

“This private investment will create jobs and drive national growth.”

Heathrow handled more than 83.9 million passengers last year.