🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

UPDATE 1-Top executives lead Heathrow runway revolt-report

Published 05/03/2009, 05:39 PM
Updated 05/03/2009, 06:24 PM
CSGN
-
KGF
-
BSBAy
-
SBRY
-

(Updates with leaders' letter)

LONDON, May 3 (Reuters) - The leaders of some of the UK's largest companies have started a revolt against the third runway at Heathrow, citing "responsible citizenship," media reports said.

An open letter, signed by 13 business leaders, is expected to question the benefits to business of the runway and to call for more exploration into possible alternatives, the Daily Telegraph reported on Monday.

Among the names listed were James Murdoch, head of News Corporation in Europe and Asia, and BSkyB chief Jeremy Darroch, the paper said.

"To say that all those from the business community support the third runway is wrong," the letter is expected to say on Monday, according to the Daily Telegraph report.

The letter is expected to take issue with the notion that passengers changing planes at Heathrow boost the domestic economy.

The company leaders will call for more new high-speed rail links, and raise environmental and safety concerns, the paper said.

The Sunday Times had earlier reported that the 13 also included Justin King of J Sainsbury , Charles Dunstone of Carphone Warehouse , Ian Cheshire of Kingfisher and Roy Gardner of Compass .

Kingfisher confirmed Cheshire was involved, but the others were unavailable for comment.

The paper cited Russell Chambers, an adviser at Credit Suisse, who it said was "instrumental informing the group."

"It's possible to be pro-transport, pro-aviation and yet at the same time, pro-responsible citizenship," he told the paper.

A source familiar with Chambers' thinking confirmed to Reuters that he has been very concerned about the third runway along with a number of other "high profile" executives. Credit Suisse declined to comment. (Reporting by Ben Deighton and Avril Ormsby; editing by Richard Chang)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.