UK: Heathrow owners ready to fund new runway

Shareholders in London's Heathrow are ready to invest GBP16b if the govt chooses it as the site for airport expansion, one of the investors said in a letter to new prime minister Theresa May. Heathrow has been campaigning for years to build an additional runway but a decision has been delayed by successive govts worried about pollution and local opposition. Transport minister Chris Grayling said he wanted to "move rapidly" with making a decision about where to build a new runway, and would be looking at the matter in the coming weeks. Universities Superannuation Scheme, which owns a 10% stake in Heathrow, said in a letter to May Tuesday that the airport's shareholders were prepared to put up the money to pay for a new runway - the first time the investors have publicly confirmed their readiness to fund it. <br/>