Heathrow Airport has unveiled a £10 billion investment plan to expand capacity, aiming to handle an extra 10 million passengers a year by 2031.
The plan forms the core of the airport's 2027-2031 business proposal, which was submitted to the Civil Aviation Authority on Friday.
It would require passenger charges being set at an average of £33.26 during the period, Heathrow said. That is compared with an average of £28.46 between 2022 and 2026.
The plan would create new space within existing terminals equivalent to 10 football pitches, enabling new lounges, restaurants and shops to be built.
It would also result in faster security and baggage handling, according to the airport.
The airport is seeking to demolish the building previously used as Terminal 1, extend Terminal 2, and build a new southern access road tunnel.
Once complete, the project would enable Heathrow to increase its passenger capacity by 12%, equivalent to 10 million more travellers annually.
Heathrow chief executive Thomas Woldbye said: “We’re making good progress on our strategy to become an extraordinary airport – having become Europe’s most punctual major airport so far this year.
“But our customers want us to improve our international rankings further, as do we.
“To compete with global hubs, we must invest. Our five-year plan boosts operational resilience, delivers the better service passengers expect and unlocks the growth capacity airlines want with stretching efficiency targets and a like-for-like lower airport charge than a decade ago.
“With Heathrow’s UK-based supply chain, this private investment will create jobs and drive national growth during this Parliament.
“We are ready to deliver the more efficient, sustainable Heathrow that will keep Britain connected to the world.”
"That means faster security, smoother baggage handling, more comfortable terminals, new lounges, restaurants and shops – all while delivering a better service for the growing number of passengers who need assistance.”
Heathrow is Europe’s busiest airport, with more than 83.9 million passengers travelling through its terminals in 2024.
(PA/London) Note: This article has been edited with the help of Artificial Intelligence.
