LONDON - Heathrow Airport has unveiled a £10 billion (US$13.5 billion) investment plan to expand capacity over the next five years, aiming to handle an extra 10 million passengers by 2031, reported German Press Agency (dpa).
The plan forms the core of the airport's 2027-2031 business proposal was submitted to the Civil Aviation Authority on Friday.
Writing in The Standard, Heathrow chief executive Thomas Woldbye said the changes would include new lounges, restaurants, and shops, as well as faster security and baggage handling.
"For an average airport charge of £33.26 (US$45.19) - lower in real terms than a decade ago - we'll unlock space for 10 million more passengers, grow cargo capacity by 20 per cent, and upgrade nearly every part of the passenger journey," he said.
"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.
Woldbye said the airport would cut carbon emissions by three million tonnes, or 15 per cent of its 2024 footprint, in the next five years.
"Heathrow is not where we'd want it to be in the global rankings. We've shown we can improve, becoming Europe's most punctual major airport this year," he said.
"But to move up, we must invest. Other countries have modernised their hubs, the UK hasn't. The risk of doing nothing is decline." - BERNAMA-dpa