London’s Heathrow airport may soon have a new runway that could add nearly $150 billion to the UK economy and create thousands of jobs. In an independent report, The Airports Commission has strongly endorsed the creation of a third runway as an effective way to boost Britain’s economy and aviation capacity. The commission has estimated that a third runway could add around $147 billion dollars to the U.K. economy and create 70 thousand jobs by 2050. Heathrow is currently the world’s third busiest airport, servicing around 72.4 million passengers per year and has been operating at full capacity for the last 5 years. The greater London area has not had a new airport runway in almost 7 decades. The results of the study put British Prime Minister David Cameron in an extremely awkward political position. He personally promised voters back in 2009 that the third runway plan would not go ahead, adding that the pledge was made with ‘No ifs, no buts.’ TheStreet’s Amelia Martyn-Hemphill has details from New York.
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