The proposed plan by Heathrow Airport to open up a third runway has been given the green light by the High Court, who has ruled against campaigners challenging the legality of the Government's decision.
Judges rejected the arguments, which included campaigners saying the runway would effectively create a "new airport", as well as have a "severe" impact on Londoners, ruling the plans were lawful.
Construction could begin in 2021, costing £14 billion, with the third runway in operation by 2026.
Commenting on the High Court ruling on the expansion judicial review claims, a Heathrow spokesperson said:
“We are delighted with today’s ruling which is a further demonstration that the debate on Heathrow expansion has been had and won, not only in Parliament, but in the courts also. We are getting on with delivering the once-in-a-generation project that will connect Britain to global growth, providing thousands of new jobs and an economic boost for this country and its future generations.”
In the wake of the ruling, shares in International Consolidated Airlines Group, owner of British Airways, Heathrow’s biggest carrier, grew 1.3% .
The airport operator has suffered from a shortage of slots in recent years, last year it was only able to boost flight numbers by 0.2%, due to the struggle to win permission to build the new runway.
A Heathrow spokesperson added: "With expansion on the horizon, Heathrow is set to invest nearly £1 billion into the airport over the coming year to prepare us for the future growth that expansion will unlock. Following a successful consultation on modernising the airspace around Heathrow in Q1, Heathrow is preparing to unveil its detailed preferred masterplan for public consultation in June."
Elsewhere, Heathrow Airport also posted that its profit before tax fell nearly 57% to £57 million in the first quarter of 2019, but rose 73% on an adjusted basis.
Meanwhile, revenue declined 0.1% to £679 million, despite the airport reporting passenger numbers increasing 1.4% to a record 17.9 million in the first three months of the year.