Heathrow Airport has announced it is abandoning plans to gain planning approval for a third runway at Heathrow and will also cease purchasing properties in the village of Sipson.

Colin Matthews, BAA’s chief executive officer, said: “We recognise the importance of government policy in a matter as significant and controversial as runway capacity.

“The policy intentions of the new government are clear and it is no longer appropriate for us to purchase properties. Equally important is our intention to stand behind our commitment made to provide time for those local residents who wish to sell their properties to us, to do so.

“We introduced the current scheme to assist homeowners faced with an extended period of uncertainty. Today, we will meet with the local community and its representatives to discuss the new situation.

“Heathrow plays an important role for the UK and supports thousands of jobs. We continue to believe that new capacity would strengthen the UK’s trading links with the global markets on which our economy and our competitiveness depend.”

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