Heathrow to invest £2.3bn as Ardian and Saudis take stake
Heathrow has unveiled plans to invest £2.3bn in upgrading the airport over the next two years, in what is says will be the largest private sector capital investment in UK transport infrastructure.
The investment is an uplift on prior forecasts of around £244m and will be used for upgrades across all terminals, including baggage delivery and projects to support departures and arrivals.
It comes less than a week after French buyout firm Ardian and Saudi Arabia’s sovereign wealth fund, the PIF, completed their purchase of a more than 37 per cent stake in the airport.
Britain’s busiest hub said on Wednesday the capital would “drive economic growth across all parts of the UK.”
“To deliver the UK’s industrial strategy and support industries that rely on Heathrow’s global connectivity, it is critical that the UK’s international gateway for trade and tourism is fit for the future.”
In a statement, chief executive Thomas Woldbye said: “Heathrow is the UK’s gateway to the world, and ultimately, the country’s gateway to growth.
“Today’s announcement confirms that we will continue to invest more than £1bn of private sector cash each year into the airport to deliver facilities our airlines and passengers want, while boosting the UK economy and creating opportunities for businesses up and down the country.”
Heathrow has enjoyed its busiest year on record in 2024, with passenger numbers expected to reach more than 80m over the period.
However, it has also suffered criticism for crumbling infrastructure at its busy terminals. Emirates boss Sir Tim Clark described the hub as “dismal and dilapidated” and likened its facilities to a Second World War airport in June.