Gateway to growth18 Dec 2024 14:03
Heathrow Airport has unveiled plans to invest £2.3billion over the next two years in a bid to upgrade Britain's busiest airport.
The investment is an uplift of £244million on previously forecasted investments, and comes just days after Saudi Arabia's sovereign wealth fund PIF and French investment firm Ardian bought a 37 per cent stake in the airport.
Heathrow said the £2.3billion war chest will be used to improve all terminals, including baggage delivery and projects to support punctual departures and arrivals.
The investment, which includes £1.05billion spending on the airport's infrastructure in 2025, compares with a £1.1billion investment in the airport in 2024.
'Today's announcement confirms that we will continue to invest more than £1billion of private sector cash each year into the airport to deliver facilities our airlines and passengers want,' Heathrow chief executive Thomas Woldbye said.
'Heathrow is the UK’s gateway to the world, and ultimately, the country’s gateway to growth.'