London Heathrow’s Investment Cleared for Takeoff

DALLAS — London Heathrow Airport (LHR) has unveiled a monumental investment program, the largest in its history, a mere few weeks after securing support for its third runway. This ambitious undertaking is set to reshape the aviation landscape and significantly boost the UK's economic growth. 

Britain’s busiest airport is launching a multi-billion-pound plan to upgrade Terminals 2 and 5 to increase passenger capacity. This project, funded entirely by private sources, is a testament to Heathrow's commitment to being the ‘UK’s Gateway to Growth’. 

The airport’s decision to use British steel, in line with the UK Steel Charter, is a crucial step in supporting the country's steel industry and fostering economic growth.

The UK’s Industry Minister, Sarah Jones, welcomed today's announcement and said, “This investment is the latest in a long line of wins which our Plan for Change has helped deliver, and not only supports thousands of jobs but marks a major vote of confidence in our homegrown steel sector and this government’s Industrial Strategy.” 

“Driving demand for UK-made steel is a crucial part of our upcoming Steel Strategy, and signing the Steel Charter Heathrow will give a huge boost to steelmaking communities across the UK and help us kickstart economic growth.” 

In an address delivered at British Steel Scunthorpe, Heathrow CEO Thomas Woldbye acknowledged the Government’s support for the airport’s expansion plans, including its third runway.

“This privately funded program will upgrade existing infrastructure while laying the groundwork for a third runway, boosting UK investment and economic growth, with tangible benefits felt this year. Heathrow is proud to answer the Chancellor's call to get Britain building." 

“A third runway is critical for the country’s future economic success, and I confirm we will submit our plans for a third runway to the government this summer."

Initial Investments

Full details of Heathrow’s investment program will be submitted to the Government this summer. Today, the airport confirmed investments in:  

• Terminal infrastructure: Heathrow will work with airlines and the regulator to finalize plans to invest in Terminal 2's capacity and make changes to optimize and increase passenger capacity in Terminal 5.   

• Improving customer experience and punctuality: To improve resilience and punctuality, the airfield's layout will be reconfigured and improved, and the number of aircraft stands will be increased.   

• Local transport connections and sustainable travel: 

The investment program includes further plans to improve bus and coach connections to encourage sustainable and active travel options and benefit our local communities.  

• Sustainability: 

The new infrastructure will have improved environmental credentials and use more sustainable sources of power, supporting the ambitious targets set out in Heathrow’s Connecting People and Planet sustainability strategy.  

Heathrow’s investment plans will primarily benefit the airport, making it more efficient, reliable, and sustainable. Over the next two years, Heathrow aims to improve service, resilience, passenger experience, and sustainability through multiple projects.

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