Shareholders in Heathrow will invest 650 million pounds ($807 million) over the course of 2019. Heathrow CEO John Holland-Kaye said the plans, when implemented would be of great benefit for Heathrow passengers and for Britain.
He said: “The planned investment is great news for Heathrow passengers and for Britain – it will help us build on our success as passengers’ Best Airport in Western Europe and further improve resilience at the nation’s hub.”
Having delivered a record number of passengers in 2016, and with the approval expansion, Heathrow is on course to maintain its status as Britain’s main airport. The plans, aimed at improving passenger experience, include expansion of Terminal 2 and a new Southern access tunnel for road traffic to the Central Terminal Area.
Heathrow will prepare the details of the projects and present to the airport’s shareholders for approval
Qatar, a major shareholder in Heathrow earlier in the week pledged to invest $6 billion in the UK, ahead of Britain’s formal notice to begin the formal process of withdrawal from the European Union in 2019.
In a statement, Sheikh Abdulla Bin Mohammed Bin Saud Al-Thani, Chief Executive Officer of Qatar Investment Authority:"Our investment in Heathrow is much more than just an investment in one of the world's great airports – it's an investment in Britain's connections to the world,"
“As the UK reshapes its role in the world, we confirm our commitment as proud partners of a great trading nation.” The airport’s international shareholders include: Ferrovial, Qatar Investment Authority, Caisse de dépôt et placement du Québec, GIC, Alinda Capital Partners of the United States and China Investment Corporation.
The London airport which serves more than 75m passengers every year hosts more than 80 airlines and flies more than 180 destinations. 30 more airlines are waiting for the runway’s expansion to allow them to fly from Heathrow.