IAG CEO opposes Heathrow expansion
The chief executive of British Airways owner International Airlines Group on Friday said the group does not support the building of a new runway at London's Heathrow Airport due to the costs the airline would incur.
FTSE 100
7,895.85
16:59 19/04/24
FTSE 350
4,341.08
17:09 19/04/24
FTSE All-Share
4,296.41
17:08 19/04/24
IBEX 35
10,729.50
18:45 19/04/24
International Consolidated Airlines Group
€1.97
18:16 19/04/24
International Consolidated Airlines Group SA (CDI)
169.50p
16:40 19/04/24
Travel & Leisure
7,521.61
17:10 19/04/24
"We think the costs associated with the third runway are outrageous and certainly from an IAG point of view we will not be supporting it and we will not be paying for it,” Willie Walsh said, after the company published its first-half results.
Read more: Heathrow airport should have a third runway, report recommends
If the expansion is approved, airlines would have to foot the some of the costs of the runway, but Walsh opposed this idea.
"We're not going to support something that increases our costs," he said.
The comments came the same day IAG reported its profits for the second quarter, posting operating profit of $530m, beating forecasts of €494m and 39% higher than the €380m in the same period last year.
You may also enjoy reading:
Gatwick chairman says Heathrow expansion is 'unfair'
Heathrow expansion would be "undeliverable", says International Development Secretary
London Heathrow's flights delayed amid protests against runway expansion