Heathrow to ‘refine’ expansion proposals

Heathrow to 'refine' expansion proposals

Refinements to Heathrow’s proposal for a third runway will be submitted to the Airports Commission on May 14, reflecting input from public consultation in February and March.

The airport said its plans had been “refined” following discussions with local authorities, communities and other stakeholders but declined to divulge details.

Heathrow’s expansion proposal would raise the capacity at the London hub to 740,000 flights a year, from the current limit of 480,000. It would cater for up to 130 million passengers a year against up to 80 million.

Heathrow said it will continue to work with the Airports Commission and stakeholders on its proposals. The Airports Commission is due to report its final findings in summer 2015.

Plans for the new submission came as Heathrow announced first quarter profits up by more than 31% to £319 million as passenger numbers rose by 0.5% to 16 million passengers.

Income from airlines in the three months to March 31 increased by 18.3% to £356 million while average aeronautical income per passenger increased 17.6% to £22.20.

Heathrow now expects adjusted EBITDA for 2014 to be “slightly higher” than the previously forecast of £1.513 billion.

Chief executive Colin Matthews, who is to stand down after the opening of the new Terminal 2 in June, said:

“Heathrow performed well in the first quarter. Financial performance was strong and passenger satisfaction ratings were at their highest ever level, reflecting steady operational improvement.

“Terminal 2 is on time and on budget and will further improve Heathrow’s passenger satisfaction ratings when it opens on June 4.

“Long-term prospects are also bright and our submission to the Airports Commission in May will set out the case for building on Heathrow’s strength as a global hub that can connect all of the UK to the world’s fastest growing markets.”

Heathrow is searching for a successor to Matthews with the aim of having a new chief executive in place later this year.

Matthews will remain in his position until his successor is in place to ensure a smooth transition, the company said.

Sourced from Travel Weekly

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