Major UK airport reveals plans to expand two of its terminals as part of multi-billion renovation

LONDON’S Heathrow Airport is set to benefit from a ‘once-in-a-generation investment,’ that will see capacity at two of its terminals increase.

Under the plans, passenger capacity at Terminal 5 will increase, with the number of aircraft stands set to rise.

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London’s Heathrow Airport is set to benefit from another multi-billion investment plan, which will see passenger capacity increase at the huge travel hub[/caption]

Money will also be pumped into infrastructure at Terminal 2, with bus and coach connections improved, and the layout of the airfield also being reconfigured.

Later today, chief executive Thomas Woldbye is expected to say: “This privately-funded programme will upgrade existing infrastructure while laying the groundwork for a third runway, boosting UK investment and economic growth, with tangible benefits felt this year.”

The new investment will build on the airport’s £2.3billion renovation that was announced at the end of last year.

Heathrow’s latest revamp will be 100 per cent privately funded.

Before work can begin, the investment plans need to be approved by the UK Government and other regulatory bodies.

With Woldbye expected to add, “This project can only go ahead if we meet the rules on noise, air quality and carbon that the government sets out in the Airports National Policy Statement.”

If the plans are approved, work will start on infrastructure inside the airport’s boundary.

Heathrow Airport is expected to submit a full proposal to the government this summer.

In addition to its new investment plans, Heathrow Airport will submit a proposal for a third runway to the government later this year.

The news comes just weeks after Chancellor Rachel Reeves backed plans to install a third runway at Heathrow Airport.

Despite the Chancellor’s support, concerns over a third runway at Heathrow Airport have been raised by a number of MPs including Net Zero Secretary Ed Miliband and London mayor Sir Sadiq Khan, regarding environmental worries.

Reeves previously said the expansion would see fewer planes circling London as they attempted to land, which would mean cleaner air.

If a third runway does indeed open at the major London airport, holidaymakers could be hit with more expensive flights though.

Figures show it could cost as much as £20billion to add a third runway to Heathrow.

Airport bosses have asked for the cap on landing fees to be increased, in a bid to help cover the cost of the expansion.

The landing fee cap is enforced by the Civil Aviation Authority and is set over five years.

While this year’s landing charge is set at £23.73 per passenger, it is set to drop to £23.71 in 2026.

Even though airlines pay the cap, the cost is often passed onto passengers who cover the charge when paying for flights.

Reeves’ support is part of a wider plan to boost the country’s economic growth by increasing airport capacity in the southeast of England, with the chancellor also supporting the full-time use of a second runway at Gatwick Airport.

London Stansted Airport confirmed a £1.1billion renovation, with a £600million new terminal.

And Manchester Airport is currently undergoing a £1.3billion renovation.

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The new investment plan will be outlined in a speech by Heathrow chief executive Thomas Woldbye[/caption]