According to The Sunday Times, firms in the Middle East and Asia, who have showed interest in investing in a new hub airport are being put off over the government’s indecision on aviation policy.
Last week the Department for Transport delayed its consultation into aviation, which was due to start this summer. This has now been pushed back to “later in the year” which is thought to be the autumn.
The newspaper quoted a partner at architecture firm Foster+Partners, which has floated a plan for a new airport in the Thames Estuary, as saying it would plan to raise £3 billion to bankroll the new airport.
The report goes on to say the firm has already made 12 presentations to investors about the new hub.
Under its plans Heathrow would be closed and all airlines would relocate to the new airport. Willie Walsh, chief executive of International Airlines Group, has previously indicated British Airways would not be willing to move from its flagship terminal at Heathrow.