25th Oct 2016 11:27
LONDON (Alliance News) - Irish budget airline Ryanair Holdings PLC on Tuesday criticised the UK government's approval of a third runway at Heathrow, saying it should "stop dithering" and approve a "three-runway solution" at each of London's Heathrow, Gatwick and Stansted airports.
Ryanair's statement came shortly after the UK government approved the construction of a third runway at Heathrow on Tuesday morning.
Ryanair, which has long campaigned for airport expansions in London, said Tuesday's decision will allow Heathrow to "waste" over GBP18 billion on construction of the third runway, an "excessive monopoly cost that will have to be paid for in higher fares for many years to come".
The airline added that by the time the third runway is open in 2025, it will already be full at peak periods, meaning another runway, or two, in the south east will be necessary.
Ryanair said the addition of three competing runways at Heathrow, Gatwick and Stansted would allow competition to encourage the airports to keep the costs of the runway developments down, "thereby providing a better solution for UK consumers and visitors" through competitive airport fees and lower air fares.
"This piecemeal approach to runway infrastructure in the south east is damaging British tourism and the competitiveness of London airports. Approving a third runway at Heathrow over Gatwick is not the way forward. London now benefits from three competing airports, and three large competing airlines and the best way to deliver additional runways in a timely and cost efficient manner is to approve three additional runways, one each at Heathrow, Gatwick and Stansted," Chief Executive Michael O'Leary said in a statement.
"The threat of additional runways at competitor airports will force Heathrow to keep its costs down while developing a third runway in the most timely and efficient manner," he added.
Shares in Ryanair were trading flat at EUR12.70 on Tuesday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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