In a keynote address at British Steel Scunthorpe, Heathrow CEO Thomas Woldbye welcomed the Government's strong support for the airport’s expansion, including a third runway.

Woldbye unveiled Heathrow's largest-ever private investment programme and confirmed that detailed proposals for the third runway will be presented to the Government by summer.

Woldbye said: "This privately funded programme 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 Government this summer. Ahead of then, as part of a phased expansion programme and supported by the Government’s clear backing, I am today confirming multi-billion-pound investment plans, 100% privately funded, to upgrade our terminal buildings, enhance passenger experience, and improve resilience and sustainability. This is vital investment and will ensure Heathrow remains globally competitive and a jewel in the country’s crown – the UK’s Gateway to Growth."  

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Full details of the investment programme, phasing, and the pathway to a third runway will be part of Heathrow’s initial proposals submitted to Government this summer, but plans confirmed today will include new investment in: 

Terminal infrastructure: Heathrow will work with airlines and the regulator to finalise plans to invest in the capacity of Terminal 2 and make changes to optimise and increase passenger capacity in Terminal 5.  

Improving customer experience and punctuality: Reconfigure and improve the layout of the airfield, increasing the number of aircraft stands, to improve resilience and punctuality.  

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

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

This privately funded programme to transform Heathrow's current infrastructure, with early tangible benefits felt this year, will start with projects within the airport’s existing boundary and work towards a third runway. 

The plans will help the airport become more efficient, more reliable and more sustainable for all passengers and airlines at Heathrow. These new investments build on the £2.3bn accelerated investment announced by Heathrow in December to improve service, resilience, passenger experience, and sustainability through multiple projects over the next two years. 

Heathrow's once-in-a-generation phased investment programme for airport modernisation and expansion will create transformational opportunities for UK businesses and industries, during this Parliament and beyond. 

As a sign of its commitment to ensuring positive benefits nationwide, Heathrow also signed the UK Steel Charter at British Steel Scunthorpe. The charter aims to maximise supply chain opportunities for UK steel producers.