Heathrow objects to lower price cap

Written By Unknown on Jumat, 10 Januari 2014 | 16.50

10 January 2014 Last updated at 04:22 ET

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.

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.

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In October the CAA accepted the need for changes to their April proposals, but has now reverted to a draconian position"

End Quote Colin Matthews Chief executive, Heathrow

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.


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