BAA
Since 2009 the company has been progressing a plan to build a third runway to expand Heathrow Airport. This requires government approval, and on 5 June 2018 the Cabinet approved the third runway, with a full vote planned for Parliament. The financing of the expansion has yet to be arranged, with Heathrow Airport Holdings' finances already highly leveraged. In 2017 borrowings were £13.4 billion, with shareholders' equity at £0.7 billion.