Heathrow has submitted a 'shovel-ready' proposal for a third runway, backed by £21 billion in private funding and targeting completion within ten years, if the UK government delivers supportive policy and regulatory changes.
The north-west runway plan, now with reinforced stakeholder support, promises up to 756,000 flights and 150 million passengers annually. The scheme would unlock at least 30 new global routes, cut fares through increased competition, and inject 0.43% into the UK’s GDP, with 60% of the benefits felt outside London and the South-East.
Heathrow CEO Thomas Woldbye said: “With a green light from Government and the correct policy support underpinned by a fit-for-purpose regulatory model, we are ready to mobilise and start investing this year in our supply chain across the country.”
The proposed expansion includes a brand-new terminal, T5X, the expansion of Terminal 2, and three new satellite terminals. The plan is part of a wider £49 billion modernisation strategy that also includes £15 billion to upgrade existing facilities, such as phasing out Terminal 3.
Heathrow says the new capacity would add 50% to the UK’s most valuable trading port and boost long-haul connectivity to high-growth global markets. The airport’s leadership also reaffirmed its net-zero commitment by 2050 and outlined its track record on noise and air quality reductions.
The proposal has won support from national business bodies including the CBI and FSB, with organisations such as UK Steel praising the commitment to prioritise UK-made materials. Airlines like easyJet also welcomed the opportunity to finally operate at scale from Heathrow.
A planning application is expected in 2028, with feedback from the government due by September to stay on track for take-off.