Heathrow updates local residents
24-May-2010 In response to the new Government's 'Coalition Agreement', Heathrow Airport today announces that it will stop work on the planning application for a third runway.
The company also plans to stop buying properties in Sipson, after a period of notice.? In line with assurances given to local residents in 2009, Heathrow will continue to consider buying properties which have been issued with a bond under its long-term property market support (PMSB) scheme¹ until 22 June 2010.
Colin Matthews, BAA's chief executive officer, said: "We recognise the importance of government policy in a matter as significant and controversial as runway capacity.
"The policy intentions of the new government are clear and it is no longer appropriate for us to purchase properties.? Equally important is our intention to stand behind our commitment made to provide time for those local residents who wish to sell their properties to us, to do so.
"We introduced the current scheme to assist homeowners faced with an extended period of uncertainty.? Today, we will meet with the local community and its representatives to discuss the new situation.
"Heathrow plays an important role for the UK and supports thousands of jobs.? We continue to believe that new capacity would strengthen the UK's trading links with the global markets on which our economy and our competitiveness depend."