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| Heathrow reviews investment plans, after charges capped | Heathrow reviews investment plans, after charges capped |
| (35 minutes later) | |
| Heathrow airport is to review its investment plans, after the regulator decided to limit the amount it can charge its airlines. | Heathrow airport is to review its investment plans, after the regulator decided to limit the amount it can charge its airlines. |
| In a surprise move, the Civil Aviation Authority (CAA) announced that Heathrow can only increase its charges by less than the rate of inflation. | In a surprise move, the Civil Aviation Authority (CAA) announced that Heathrow can only increase its charges by less than the rate of inflation. |
| Price rises will be limited to 1.5% below inflation for the next five years, starting in April. | Price rises will be limited to 1.5% below inflation for the next five years, starting in April. |
| Heathrow had asked for a rise of 4.6% above the RPI inflation rate. | Heathrow had asked for a rise of 4.6% above the RPI inflation rate. |
| The CAA had previously proposed that Heathrow would be allowed to increase its charges in line with inflation. | |
| The regulator said it would be good news for passengers. | |
| "They will see prices fall, whilst still being able to look forward to high service standards, thanks to a robust licensing regime," said Dame Deidre Hutton, chair of the CAA. | |
| But Heathrow said it would have to reconsider future investment plans. | |
| "We will review our investment plan to see whether it is still financeable in light of the CAA's settlement," said Colin Matthews, Heathrow's chief executive. | |
| "In October the CAA accepted the need for changes to their April proposals, but has now reverted to a draconian position," he said. |