Heathrow Airport has unveiled a £10bn investment plan to expand capacity, aiming to handle an extra 10m passengers per year by 2031.
The plan forms the core of the airport’s 2027-2031 business proposal, which was submitted to the Civil Aviation Authority (CAA) on Friday.
It would require passenger charges being set an average of £33.26 during the period, Heathrow said, compared with an average of £28.46 between 2022 and 2026.
Heathrow is Europe’s busiest airport, with more than 83.9m passengers travelling through its terminals in 2024. It just experienced its busiest May on record.
The plan would create new space within existing terminals equivalent to 10 football pitches, enabling new lounges, restaurants and shops to be built.
It would also result in faster security and baggage handling, according to the airport.
The airport is seeking to demolish the building previously used as Terminal 1, extend Terminal 2, and build a new southern access road tunnel.
Once complete, the project would enable Heathrow to increase its passenger capacity by 12%, equivalent to 10 million more travellers annually.
Heathrow chief executive Thomas Woldbye said: “We’re making good progress on our strategy to become an extraordinary airport – having become Europe’s most punctual major airport so far this year.
“But our customers want us to improve our international rankings further, as do we. To compete with global hubs, we must invest.”
