| Code: 120079 |

TIN news:  UK’s Civil Aviation Authority (CAA) has set out priorities to develop the economic regulation framework for the London Heathrow Airport expansion project.
The authority has consistently confirmed that its supports the third runway development project at Heathrow, but claims the airport needs to ensure the development is cost-efficient.
Under the priorities set out by CAA, the airport will have to ensure that it collaborates with its airlines on the scope, design and costs of the runway project so that it can address traveller requirements.
"CAA's regulatory arrangements will help incentivise the airport to deliver the expansion project efficiently and on schedule."
Heathrow Airport will have to set up precise cost estimates, while CAA's regulatory arrangements will help incentivise the airport to deliver the expansion project efficiently and on schedule.
According to the authority, the airport must also develop project proposals for efficient financing with regards to existing operations and the new runway, in order to support a cost-effective business plan.
The priorities set out by CAA are subject to consultation while the authority is open to views from industry and other stakeholders on its proposed approach.

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