London Heathrow airport, Europe’s busiest hub, which has been operating close to the capacity of its two runways for years, will be expanded and a third runway will be built there, Bloomberg reports on Tuesday.
The project with the funding of 16 billion pound ($20 billion) was approved on the 25th of October. However, it’s unclear how the plan will be financed.
“We’re pleased that a decision has finally been made but the cost of this project will make or break it,” Bloomberg cites Willie Walsh, chief executive officer of British Airways parent IAG SA.
Speaking about funding, he added that it was very important that the third runway was affordable with the consideration of the fact that London Heathrow is the world’s most expensive hub airport.