Gatwick plans to spend up to £500 million to shift its emergency runway by 12 metres, bringing it into full passenger use and challenging Heathrow.
In an interview with The Times, Stewart Wingate, Gatwick chief executive, said that the airport would spend between £400 million and £500 million on the revamp. The move would mean the runway would comply with international safety regulations as the two runways are currently too close together to be used simultaneously. New taxiways and stands will also be created.
It wants to bring the new runway into operation by the summer of 2025. A major planning application would be lodged in early 2020. This would allow Gatwick to expand into a two-runway hub only six months before the expected completion of a third runway at nearby Heathrow.