LONDON—London Heathrow airport has won the backing of a
government-appointed panel for a third runway to address a looming
runway capacity that has threatened to stifle Europe's biggest
market for trans-Atlantic flights.
The landmark decision by the independent Airports Commission is
a blow to rival contender Gatwick Airport and its private equity
owner Global Infrastructure Partners who lobbied hard to be allowed
to expand.
Building a new runway at Heathrow, Europe's busiest hub, could
cost more than $20 billion.
Commission chairman, Howard Davies, said, "Heathrow is
best-placed to provide the type of capacity which is most urgently
required: long haul destinations to new markets. It provides the
greatest benefits for business passengers, freight operators and
the broader economy."
Nicholas Winning contributed to this story.
Write to Robert Wall at robert.wall@wsj.com
Access Investor Kit for Credit Suisse Group AG
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=CH0012138530
Access Investor Kit for Credit Suisse Group AG
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US2254011081
Access Investor Kit for General Electric Co.
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US3696041033
Subscribe to WSJ: http://online.wsj.com?mod=djnwires