Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Headlines

UK 'minded to approve' Gatwick Airport expansion but decision delayed

Published by Global Banking and Finance Review

Posted on February 27, 2025

Featured image for article about Headlines

By Sarah Young

LONDON (Reuters) - Britain is inclined to approve the expansion of its second largest airport Gatwick, the government said on Thursday, over objections from environmentalists and during a push on infrastructure to drive economic growth.

However, transport minister Heidi Alexander said the deadline for a final decision was pushed back to October for consideration of public transport and noise level issues.

Alexander said in a statement she had issued a "minded to approve" letter for Gatwick's plan to bring its back-up runway into full use to add millions of new passengers in the 2030s.

Arguing that sustainable aviation fuel means airport enlargements do not derail net zero targets, the government has also backed a new runway at Gatwick's bigger rival Heathrow.

"Pressing ahead with airport expansion in the hope that new technologies can magic away these emissions...is incredibly reckless," said Friends of the Earth, calling the government's support for Gatwick "bewildering".

Alexander said some of the conditions attached to the Gatwick project needed further examination. Those could include potential rules on the proportion of passengers arriving at the airport by public transport and the provision of insulation for homes in the area affected by higher noise levels.

'GROWTH OPPORTUNITY'

Gatwick's plan is to move the back-up runway by 12 metres to meet safety standards for both runways to operate, at a cost 2.2 billion pounds ($2.8 billion) to be funded privately.

"Bringing London Gatwick's northern runway into routine use is one of the biggest growth opportunities for the UK," it has said.

Located 30 miles south of London, it is owned by VINCI Airports and Global Infrastructure Partners and has said the second runway could be operational by the end of the decade, boosting trade and tourism and creating 14,000 jobs.

Alexander said the new deadline for a final decision on Gatwick was October 27. Luton, a smaller airport north of London, has also asked the government for permission to expand and a decision is due by April 3.

($1 = 0.7896 pounds)

(Reporting by Sarah Young; Editing by Andrew Cawthorne)