As much of the UK’s business world recoil in the dip in customer spend, Heathrow is taking advantage of Brexit.
The airport says that due to the slump in the pound, its customers are spending more in its terminal buildings than ever before – seeing an 8% rise in profits – as well as attracting foreign investment interest.
This, says the airport’s Chief Executive, John Holland-Kaye, further strengthens the airports bid for airport expansion.
The airport is locked in a fierce battle against Gatwick over south east airport expansion – Heathrow wants to build a third runway, whilst Gatwick wants a second runway. Despite the independent Government enquiry, the Airports Commission citing Heathrow for expansion, strong opposition – including from many high profile MPs in Teresa May’s new Government – and constant Government delays, many believe that expansion at Heathrow is not a given.
Mr Holland-Kaye said, “In an uncertain economic environment, a £16bn privately funded infrastructure investment will create up to 180,000 jobs and £211bn of growth across the UK. Only Heathrow expansion will allow exporters to trade with all the growing markets of the world.”