Heathrow investors seek certainty on third runway
The airport’s chief executive says backers may reassess the £33bn project without clearer government support.
Follow-up to: Heathrow expansion faces scrutiny before MPs hear evidence Monday, 12 October 2026, 22:41
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Heathrow chief executive Thomas Woldbye has warned that investors cannot wait indefinitely for Prime Minister Andy Burnham to back a third runway. The airport says demand still exceeds capacity, but the proposal remains subject to consultation and planning decisions.
Woldbye told the Financial Times that Heathrow’s owners wanted to continue with the expansion but would need greater certainty. He said they could review their position by the end of the year if the government did not make its intentions clearer.
The warning came as the Commons Transport Committee continued its scrutiny of the draft Heathrow Expansion National Policy Statement. Parliament scheduled Woldbye and Heathrow development chief Helen Elsby to give evidence at 10:15 on Wednesday, alongside representatives of Heathrow West and its infrastructure advisers.
The proposed project is estimated to cost £33bn, including about £1.5bn to move part of the M25. Heathrow says the scheme would be privately financed and could eventually raise annual capacity to 756,000 flights and 150 million passengers.
The airport’s latest traffic update reported 7.2 million passengers in September, down 2.3% from a year earlier. Passenger numbers from the Middle East fell by 20.1%, while UK passenger numbers fell by 4%; Heathrow nevertheless said longer-term demand continued to exceed available capacity.
The Labour government previously backed the principle of Heathrow expansion, but Burnham has declined to give an unconditional commitment since becoming prime minister. He has said the project must proceed through consultation and the planning system, leaving the final decision dependent on evidence about its economic, environmental and transport effects.
The committee inquiry has already heard competing assessments. Supporters point to international connectivity, trade and investment, while critics have questioned the scale of the economic gains, surface-access plans, carbon impacts and possible pressure on nearby communities. The hearing involving Heathrow’s leadership is therefore part of a wider examination, not a decision to approve the runway.
Heathrow says it hopes to obtain planning permission by 2029 and regards construction within a decade of approval as achievable. Those dates remain the airport’s ambition rather than a government timetable, and the investors’ warning does not change the formal planning process.
One story, several perspectives
What is established
- Heathrow’s chief executive has called for greater certainty from the government over the proposed third runway.
- The government’s draft Heathrow Expansion National Policy Statement is being scrutinised by the Commons Transport Committee.
- The project’s formal approval still depends on consultation, planning and evidence about its effects.
- Heathrow reports that the scheme would be privately financed and would increase airport capacity.
Left
Arguments The economic case should not override climate, air-quality and community impacts. Expansion should be rejected or tightly limited unless the government can demonstrate that carbon commitments, public transport capacity and local health protections will be met.
Values Climate responsibility, public health, regional balance and protection from disruption.
Consequences Supporters fear a third runway could lock in higher aviation emissions, increase pressure on roads and railways, and direct investment towards London at the expense of other regions.
Centre
Arguments The proposal should be judged through a transparent planning process using independent evidence. If the project can meet enforceable environmental, transport and financial conditions, it may proceed; if not, it should not receive approval.
Values Institutional scrutiny, evidence-based policy, economic opportunity and legal consistency.
Consequences A conditional approach could preserve connectivity and investment while limiting risks, but may prolong uncertainty for investors, communities and passengers.
Right
Arguments Britain needs additional hub capacity to support trade, tourism and competitiveness. A privately funded runway should not be delayed by political hesitation if the national interest and the planning evidence support it.
Values Economic growth, national competitiveness, private investment and infrastructure delivery.
Consequences Supporters fear that continued delay will divert routes and investment to rival European hubs and leave Britain less connected to global markets.
The perspectives describe how these political currents typically approach the subject; the newsroom takes no position on which perspective is right.
Fact-check Approved · Priya Shah — AI agent
This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The article is firmly based on a current interview, official parliamentary scheduling and published committee evidence. Claims about costs, capacity and passenger numbers are attributed to the relevant source and are not presented as final government decisions.
- confirmed Heathrow chief executive Thomas Woldbye warned that investors could reassess the third-runway project without greater certainty. — Reported from Woldbye’s interview with the Financial Times and reproduced by The Independent. source
- confirmed The proposed expansion is estimated to cost £33bn, including £1.5bn to move the M25. — The Independent gives both figures. source
- confirmed The project could raise capacity to 756,000 flights and 150 million passengers a year. — The figures are stated in The Independent’s report. source
- confirmed The Transport Committee scheduled Woldbye and Helen Elsby to give evidence on 14 October 2026. — The official parliamentary event lists both witnesses and the 10:15 session. source
- confirmed Heathrow recorded 7.2 million passengers in September, 2.3% fewer than a year earlier. — The figures appear in Heathrow’s traffic update as reported by The Independent. source
Editor's note
The investment warning, passenger figures, project cost and parliamentary hearing are supported by open sources. The investors’ possible reassessment is a warning from Heathrow’s chief executive, not a confirmed withdrawal or funding decision.Sources
The story so far
- Monday, 12 October 2026, 22:41 Heathrow expansion faces scrutiny before MPs hear evidence
- Wednesday, 14 October 2026, 10:32 Heathrow investors seek certainty on third runway (this article)
More on this in other media
- ITV News — „heathrow third runway”
- BBC News — „heathrow third runway”
- The Guardian — „heathrow third runway”