 "London's Heathrow to invest nearly $3 bn to upgrade airport over 2 years")
Heathrow said on Wednesday it planned to invest 2.3 billion pounds ($2.92 billion) over the next two years to upgrade Britain's busiest airport.
The investment is an uplift of 244 million pounds on previously forecasted investments, it said, and comes just days after Saudi Arabia's sovereign wealth fund PIF and French investment firm Ardian completed their more than 37% stake acquisition in the airport.
The capital will be used to improve all terminals, including baggage delivery and projects to support punctual departures and arrivals, Heathrow said in a statement.
The investment, which includes about 1.05 billion pounds spending on the airport's infrastructure in 2025, compares with a 1.1 billion pound investment in the airport in 2024.
"Today's announcement confirms that we will continue to invest more than 1 billion pounds of private sector cash each year into the airport to deliver facilities our airlines and passengers want," Heathrow CEO Thomas Woldbye said.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%