Airlines and hoteliers say Heathrow's funding model should be reformed before any investment is made in the proposed third runway. Businesses want a fundamental review of the regulations set by the Civil Aviation Authority (CAA) that govern what Heathrow can charge.

London's Heathrow Airport (LHR) will submit a proposal for a third runway to the U.K. government this summer and hopes to use it for flights within the decade.

London's Heathrow Airport will submit its proposal for a third runway this summer, the chief executive of the hub said, weeks after the British government threw its weight behind the project citing its potential to boost trade and economic growth.

Chancellor Rachel Reeves used a speech on growth last month to give her support for a third runway at Heathrow.

A map reveals where Heathrow will expand after the government gave a green light to the airport’s growth. The UK’s busiest airport will get a third runway and a new terminal after confirmation by Chancellor Rachel Reeves last month.