Member

The whole thing rests on having a regulated asset-based finance structure, which allows Heathrow to finance the runway a long time before it is available for use. I genuinely do not know how long the project is going to take, but let us say it will take approximately 10 years to build it and all the stuff that goes with it; Heathrow would have to be financing it a long way in advance. That means airlines are paying for facilities that they cannot use because they have not been built. Passengers are paying for those facilities because they are reimbursing the airlines as far as they can.