Heathrow’s foreign backers are backing the United Kingdom as Article 50 to leave the EU gets triggered.
Major investors in the UK’s largest airport are reported to be investing UK 650 million for major projects.
Likely projects to include the expansion of Terminal 2 and a new southern access tunnel for road traffic to the airport.
It sounds like a decent sum of money. But consider this:
- A new Boeing 787 or Airbus A350 costs about UK 240 before the normal discounts.
- SAS has just sold 2 pairs of slots at Heathrow for USD 75 million ( about 60 million ponds).
- The estimated cost of the surface access costs to a third Heathrow runway are between £5 billion (Airports Commission) and £20 billion (Transport for London (TfL).
So it is a trivial amount of money in the scheme of Heathrow things but a big statement in political terms as the Uk leaves the EU.
Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, chief executive of Qatar Investment Authority:
“Our investment in Heathrow is much more than just an investment in one of the world’s great airports – it’s an investment in Britain’s connections to the world.
“As the UK reshapes its role in the world, we confirm our commitment as proud partners of a great trading nation.”
Heathrow is 100% owned by foreign companies:
- Ferrovial S.A. (25pc)
- Qatar Investment Authority (20pc)
- Caisse de dépôt et placement du Québec (12.62pc)
- Singapore’s sovereign wealth fund GIC (11.2pc)
- Alinda Capital Partners of the United States (11.18pc)
- China Investment Corporation (10pc)
- Universities Superannuation Scheme (10pc)
TFL full response to APPG on Surface Access