Skip to content
Search

Latest Stories

Arora hails major breakthrough in quest to build Heathrow's third runway

BRITISH business tycoon Surinder Arora has applauded a major development related to his enthusiasm to construct Heathrow’s third runway.

Arora has been making sustained efforts to take control of the airport’s extension from operator Heathrow Airport Limited (HAL).


Now, the Civil Aviation Authority has hired an independent consultant to have a detailed analysis of whether the British airport could be built and operated by more than a single business.

Heathrow and Arora, a major landowner around the airport, have been under stiff competition for the airport project.

Both have been trying to control the building of a third runway, and they reportedly appear unwilling to work jointly.

British Indian Arora said: “This was really great news, a great breakthrough, a complete game-changer. We always knew HAL was a huge machine, and they’d try to keep everyone out of their world.”

This is for the first time the UK’s aviation officials are considering to break the tight grip of the airport’s operator.

Arora has gained the support of Heathrow’s biggest customer, British Airways owner IAG. The chief executive officer of IAG Willie Walsh has favoured the prospect of competition.

Last year, the British parliament gave its nod for the proposed Heathrow’s extension. However, there are still concerns over the support by politicians and the implementation of the project.

Brought up in humble circumstances – when he arrived in Britain he could barely speak English – Surinder Arora, the founder of the Arora Group, has created one of the country’s leading hospitality businesses.

Arora, chairman and founder of the Arora property group, recently inaugurated his 16th hotel – the Hilton Garden Inn at Heathrow.

His offices are on the other side of Heathrow, opposite the Hilton Garden Inn.

According to Arora, HAL’s monopoly has pushed up prices. “Schiphol in Amsterdam has six runways, yet Schiphol’s landing charges are half of Heathrow’s. Heathrow is three times more than Dublin airport.”

Meanwhile, HAL commented that a different operator would significantly aggravate passenger service and raise expenditure.

More For You

JLR-Tata-Getty

JLR had initially planned to manufacture more than 70,000 electric vehicles at the facility. (Photo: Getty Images)

JLR halts plan to build EVs at Tata’s India plant: Report

JAGUAR LAND ROVER (JLR) has put on hold plans to manufacture electric vehicles at Tata Motors’ upcoming £775 million factory in southern India, according to a news report.

The decision was influenced by challenges in balancing price and quality for locally sourced EV components, three of the sources said. They added that slowing demand for electric vehicles was also a factor.

Keep ReadingShow less
Government to abolish payments regulator to boost growth

Keir Starmer (R) and Rachel Reeves host an investment roundtable discussion with members of the BlackRock executive board at 10 Downing Street on November 21, 2024 in London, England. (Photo by Frank Augstein - WPA Pool/Getty Images)

Government to abolish payments regulator to boost growth

PAYMENTS REGULATOR will be abolished and its remit absorbed by another financial regulator, the government said on Tuesday (11), as it aims to cut red tape in favour of growth.

The Payment Systems Regulator (PSR), which oversees systems including MasterCard and bank transfers, tackles problems such as fraud, excessive fees and lack of competition among banks and payment providers.

Keep ReadingShow less
Boohoo

Boohoo’s shares, which have fallen by about 20 per cent this year, dropped 4 per cent on Tuesday. (Photo: Getty Images)

Boohoo rebrands as Debenhams after 21 per cent sales drop

BOOHOO has rebranded itself as Debenhams Group after sales from its young fashion brands, including Boohoo, MAN, and PrettyLittleThing, declined by 21 per cent to £947 million.

The move comes amid strong competition from Shein and a shift towards second-hand clothing among younger shoppers, The Guardian reported.

Keep ReadingShow less