Businesses want a fundamental review of the regulations set by the Civil Aviation Authority (CAA) that govern what Heathrow can charge. They say the current model makes Heathrow the most expensive airport in the world. If changes are not made, businesses say the third runway will not happen as it will be too expensive.

London's Heathrow Airport (LHR) will submit a proposal for a third runway to the U.K. government this summer and hopes to use it for flights within the decade.

London's Heathrow Airport will submit its proposal for a third runway this summer, the chief executive of the hub said, weeks after the British government threw its weight behind the project citing its potential to boost trade and economic growth.

Chancellor Rachel Reeves used a speech on growth last month to give her support for a third runway at Heathrow.