It has been a rollercoaster ride for Heathrow Airport in the last few weeks. First, the UK’s biggest hub faced stinging criticism from Emirates president Sir Tim Clark, who slammed the infrastructure at Terminal 3 and likened it to a run-down Second World War Airport. Many see Heathrow’s future status as linked to whether its long-delayed third runway project ever gets off the ground.
However, a few days after Clark’s comments, Willie Walsh, the former chief executive of British Airways and head of IATA, wrote off the plans as dead and buried. The criticism from two of the most well-respected figures in aviation came after months of speculation over the third runway amid a looming general election and fears Heathrow could lose its position as one of the world’s top airports to the likes of Dubai and Istanbul. But is it really all doom and gloom down in West London? After months of discussion, a £3.
3bn deal that will see th e private equity group Ardian and Saudi Arabia’s sovereign wealth fund take a 38 per cent slice of Heathrow was reached on Friday. Whatever you think about the Saudi takeover, it means one thing: its Middle Eastern investors still see Heathrow as a key trophy asset in their bid to become a global tourism superpower. In an interview with City A.
M. last Tuesday, Menzies chief executive Philipp Joeinig was far more upbeat than Sir Tim Clark on Heathrow’s infrastructure. He argued Terminal Five and Two were performing very well with continued inves.