Heathrow’s growing debt makes third runway plan even more absurd, say opponents
A £1 billion rise in Heathrow’s debt has prompted campaigners to argue that the government’s decision to back airport expansion over a third runway is even more absurd.
The company’s recently released accounts last year reported debt of £17.6bn, up from £16.6bn in 2024.
Owners also reported pre-tax profits of £575 million, down more than a third from £917 million in 2024, despite passenger numbers rising by 600,000.
Heathrow’s controversial £49bn expansion plan means demolishing more than 700 homes and moving the M25 motorway into a tunnel to create a third runway, a new terminal and new taxiways.
Campaign organization 3rd Runway Coalition said the rising debt raised questions about the viability of the project.
Coalition chairman Paul McGuinness claimed Heathrow was “the most indebted piece of infrastructure in the UK”.
He said the expansion was an “exorbitantly expensive project that will cost a fraction of the price elsewhere in the UK and is ridiculous considering the total cost of Gatwick’s expansion was just £2.2bn”.
He warned that taxpayers could bail out the project “if it becomes more than just an unfinished hole in the ground.”
Debt at Britain’s largest airport has gradually increased from around £14bn in 2019.
Last year Chancellor Rachel Reeves backed the long-awaited expansion, saying it would potentially create 100,000 jobs and boost the UK economy.
The new track, which was first approved by lawmakers in 2018, is expected to take at least a decade to create.
Critics say increases in noise and pollution, rises in carbon emissions, the closure and diversion of the M25 and the evacuation of thousands of people from their homes make the plan unacceptable.
Heathrow says it plans to reach net zero carbon emissions by 2050, despite more flights, using less harmful fuel and with government fiscal incentives.
An airport spokesman denied the £17.6bn debt raised questions about expansion plans.
He said: “Heathrow remains very well financed, maintains its investment grade credit rating and maintains a strong financial position with liquidity of £2.9bn.”
Independent He also asked the government to respond.
