Heathrow Airport Shelves Plan for Third Runway

A strong Q4 performance helped the airport reach their first adjusted profit in four years with £38 million adjusted profit before tax. (Reuters)
A strong Q4 performance helped the airport reach their first adjusted profit in four years with £38 million adjusted profit before tax. (Reuters)
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Heathrow Airport Shelves Plan for Third Runway

A strong Q4 performance helped the airport reach their first adjusted profit in four years with £38 million adjusted profit before tax. (Reuters)
A strong Q4 performance helped the airport reach their first adjusted profit in four years with £38 million adjusted profit before tax. (Reuters)

London’s Heathrow Airport is shelving plans to add a third runway and will examine other options to handle more passengers, The Sunday Times of London reported.

Chief executive Thomas Woldbye has begun the processing of disbanding a team focused on the project, the newspaper said, citing sources it didn’t name.

The airport, which saw passenger numbers rise about 29 percent to 79.2 million in 2023, will review proposals including extending the use of buses to deliver travelers to aircraft and other measures to boost runway efficiency, according to the report.

Heathrow Airport is “looking at how we can optimize the current airport to achieve short-term growth within our current infrastructure.

A strong Q4 performance helped the airport reach their first adjusted profit in four years with £38 million adjusted profit before tax.

Behind-the-scenes investments are underway across the airport to boost passenger experience and operational resilience. Heathrow Airport are upgrading 146 security lanes as part of their £1 billion investment in next generation security equipment, and have appointed a lead contractor to replace the T2 baggage system.

“2023 was a good year for Heathrow from a challenging start to a great finish – We delivered much improved service for our customers, and managed to turn a small profit after three consecutive years of losses,” said Woldbye.



Saudi Finance Minister: 2025 Budget Aims to Continue Expanding Strategic Spending

Al-Jadaan speaking at the press conference (Asharq Al-Awsat)
Al-Jadaan speaking at the press conference (Asharq Al-Awsat)
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Saudi Finance Minister: 2025 Budget Aims to Continue Expanding Strategic Spending

Al-Jadaan speaking at the press conference (Asharq Al-Awsat)
Al-Jadaan speaking at the press conference (Asharq Al-Awsat)

Saudi Finance Minister Mohammed Al-Jadaan outlined the objectives of the 2025 budget, emphasizing a continued focus on strategic spending for developmental projects aligned with sectoral strategies and Vision 2030 programs.
He added that the budget aims to support initiatives that deliver sustainable economic, social, and environmental benefits, while enhancing the business environment, improving the Kingdom’s trade balance, and increasing both the volume and quality of local and foreign investments.
Speaking at a press conference following the Cabinet’s approval of the budget, Al-Jadaan highlighted the government’s commitment to expansionary spending due to its positive impact on citizens. He noted that Saudi Arabia’s economy has become more resilient to fluctuations in oil markets, reflecting ongoing structural changes.
The non-oil economy is projected to grow by 3.7% by the end of 2024, he said, with non-oil activities contributing 52% to GDP during the first half of the current year.
The minister also revealed that since the launch of Vision 2030, non-oil revenues have increased by 154%. Oil’s share of GDP currently stands at 28%, and the nominal GDP has reached SAR 4.1 trillion, he remarked.

Moreover, Al-Jadaan said that private investment’s contribution to GDP has grown from 16% in 2016 to 24.7% today. The industrial sector is set to attract SAR 30 billion ($8 billion) in investments in 2025, alongside SAR 12.3 billion ($3.2 billion) in credit facilities to support Saudi exporters. Tourism has also emerged as a significant driver of economic growth, ranking as the second-largest contributor to the balance of payments after oil.
The Saudi minister emphasized the encouraging economic indicators, noting the surge in small and medium-sized enterprises driven by government spending. He reiterated the government’s cautious and conservative approach to budget preparation, reflected in revenue figures.
Structural changes in the Kingdom’s economy are beginning to yield tangible results, with a 33% increase in spending on strategies and programs aimed at achieving Vision 2030, according to Al-Jadaan. These efforts are expected to sustain economic growth, foster diversification, and further strengthen the Kingdom’s global economic standing, he stated.