City of London,

Airports Commission: Statement from the Lord Mayor Alan Yarrow and Policy Chairman Mark Boleat

In light of the report from the Davies Commission, Lord Mayor of the City of London Alan Yarrow said:

“Today’s decision in favour of Heathrow is essential for the long-term economic success of the City and the British economy as a whole. As the balance of the world economy shifts to new centres and demand for new routes increases, the UK’s future airport infrastructure needs to be adaptable, resilient and most importantly have the capacity to meet demand.

“As someone who travels frequently, acting as ambassador for the UK’s financial and professional services, I know just how essential access to key international countries, especially emerging markets, is for our sustained economic growth. I have also seen first-hand how competitors like Paris, Amsterdam and Dubai are jostling with us to be the world’s number one air travel hub and following today’s decision we need to get on with the work as a matter of priority, otherwise our future as a trading nation is threatened.

“I would urge the Government to respond to the Airports Commission as soon as practically possible and get shovels into the ground immediately after that.”

In light of the report from the Davies Commission, City of London Corporation Policy Chairman Mark Boleat said:

The City’s requirements for airports are simple: a wide range of destinations, flown to regularly, from a single airport. We are falling behind in our opportunity to compete effectively on these grounds, and without quick action to expand capacity, London’s future as a centre for jobs and growth will be at risk. Recent City research showed London has the power to create 145,000 jobs over the next decade – but lack of airport capacity is one of the key risks to this. 

This is why we wholeheartedly welcome the decision to expand Heathrow. From the wider City’s perspective, Heathrow is by far the most important of London’s airports. It is the primary international gateway, the only airport offering the range of destinations required at a level of frequency that offers users timing options and resilience to changing travel plans. There is a real and tangible benefit from Heathrow’s position as a global hub to City users; transfer passengers underwrite the City’s needs and expanding Heathrow’s hub will provide benefits at a magnitude to all users. It is now crucial to move forward with this recommendation – every delay damages the City more.