Failure to build a third runway at Heathrow Airport, outside of London, would be a “huge missed opportunity” for the U.K., said Thomas Woldbye, Heathrow Group CEO, in an interview with BBC Radio 4’s Today program on October 14.
His comments come after the U.K. prime minister, Andy Burnham, refused to say whether or not he backed the expansion of the world’s 20th largest air cargo hub (Hong Kong and Shanghai top the list).
Woldbye told the BBC it would be “good to know” the government’s position on the project, and that, if its owners could not invest in a third runway, the money “will be invested somewhere else in the world,” suggesting a decision would be made early in 2027.
According to the BBC, Heathrow Airport is owned by a consortium of investors, the largest of which is French private equity firm Ardian. Others include the Qatar Investment Authority, Saudi Arabia’s Public Investment Fund and the China Investment Corporation.
Heathrow’s operators argue it needs a third runway because it is operating at full capacity, restricting economic growth and limiting the U.K.’s competitiveness.
Unlike dedicated freighter hubs (such as Hong Kong, Memphis, or Anchorage) or large European cargo centers (like Frankfurt or Paris Charles de Gaulle), Heathrow’s cargo model relies heavily on belly-hold capacity in passenger aircraft rather than all-cargo freighters. Therefore, the expansion is reliant on increasing the airport’s passenger volume capacity.
The U.K. Department for Transport responded that it was reviewing responses to a consultation and was “considering the appropriate next steps,” while acknowledging that expanding Heathrow had the “potential to deliver around £40 billion in economic benefits across the country.”
The idea of building a third runway at Heathrow has been floated for decades, but has met with fierce opposition from local residents and preservationists, politicians and organizations campaigning for restrictions on fossil fuels’ impacts on the climate.
Air freight is one of the most carbon-intensive shipping methods, releasing more than 50 times more carbon than maritime transport. According to The Guardian, it is estimated that air freight operators increased their greenhouse gas emissions by 25% in the five years between 2019 and 2024, because of the e-commerce boom and a shift toward dedicated cargo fleets.
Last year, then-chancellor Rachel Reeves said the government backed an expansion, saying that “a third runway is badly needed,” and that the government could not “duck the decision any longer.”
However, in September, Burnham, who was sworn in as prime minister only two months before, refused to say whether he backs a third runway at Heathrow, after it emerged that the expansion of the airport could be delayed by up to four years.
