London鈥檚 Heathrow Airport on Friday said it plans to invest 拢10 billion ($14 billion) over the next five years in upgrades to boost passenger numbers, largely funded by higher charges to airlines.
A statement said the plans, which are subject to approval by the UK鈥檚 Civil Aviation Authority (CAA), would add an additional 10 million passengers per year by 2031 at Europe鈥檚 busiest airport.
Of the 拢10 billion, 拢2 billion will come from shareholders, while the remainder will be financed through higher charges paid by airlines 鈥� costs that are often passed on to passengers.
Heathrow said it plans to increase the fee levied on airlines to an average of 拢33.26 per passenger.
The CAA, which first needs to agree the plans, has previously asked Heathrow to reduce fees charged to carriers.
