Death knell for Heathrows third runway as Spanish investor cuts off funding – Telegraph.co.uk

Ferrovial is backed by hedge fund billionaire Sir Christopher Hohn, one of the biggest donors to Extinction Rebellion. Its members joined Greta Thunberg on Friday in protests in London ahead of the climate change summit. Ms Thunberg told banks to “stop funding our destruction” by investing in fossil fuel projects.

Paul McGuinness, chair of the No 3rd Runway Coalition, said: “The only lifeline left is the prospect that the shareholders will do what they have never done, and inject some cash. And that their biggest shareholder has no appetite to do so may well be the death knell for Heathrow and it’s expansion.”

Though the CAA blocked Heathrow’s planned increases in landing charges, they have proposed allowing them to rise by up to 56pc. This means a family of four travelling to Florida will be paying an extra £100 or more to fly from the airport, leaving airline bosses as angry as the airport counterparts.

Willie Walsh, the former boss of British Airways and now head of airlines body Iata, said the CAA decision, subject to consultation, warned passengers risked being “ripped off”.