Ministers need to commit to third runway - Heathrow boss

The boss of Heathrow has said there is room for both of London's biggest airports to expand significantly if the government can guarantee steps to a third runway, with ministers expected to approve Gatwick's second runway this week.

- Gwyn Topham Transport correspondent

Thomas Woldbye said Heathrow would be seeking government commitments on the airport's funding model and changes to airspace before construction of a new runway could start.

Heathrow reported rising annual profits and record passenger numbers yesterday and Woldbye said the figures underscored why the airport was a "gateway to growth".

The company's pre-tax profits rose 31% to £917m, while the number of passengers it served last year rose 6% to a new annual high of 83.9 million.

It plans to pay a £250m dividend to shareholders this year, its first payout since February 2020, on the eve of the pandemic.

The airport has set a target of 100 million passengers a year, hoping to reach it through work to reorganise its terminals and airfields. A third runway - which could be open as early as 2035, Woldbye said - could take it to 140 million.