Originally Posted by British Airways
This is how it could be done:
A new arms length-state owned company (London Airport Limited) would buy Heathrow, Stansted, Gatwick, City, Southend, Luton, Southend, Manson, Biggin Hill, Ashford and Cambridge Airports (and nearby hotels, offices and other airport related facilities)
It will issue long term bonds to the general public and other institutions (at a rate of lets say 4%) that will fund 60% of the overall cost, the rest coming from government
When this new airport opens, the other airports will either shut down or become general aviation airports (which can be done in a way that Biggin Hill has already done) and thus the land can be sold (and thus the revenue from the sales can go towards funding the project
As for if airlines will move to this airport, well since there will no longer be any Heathrow, Gatwick Stansted etc, then they will have to use this airport if they want to serve London, also the fees for using this new airport will be the same as Heathrow (or even less to attract more traffic)
Forget that to issue bonds on such a scale, and the rest of the cost from the public purse, would allow the opposition of the day to have a field day, over excessive public borrowing on a project that could not even be costed, due to the unique design.
Heathrow, Gatwick Stansted and Luton etal, could soon scupper any such plans.
Rather than wait to become super housing estates, or even more bizzare GA airports..I suggest they would suspend all activity, not allowing a/c to take off or land..
See how long a government would last without any aviation in London. yes the airports would fight back, and Boris and David et al. would have to start using the chunnel.