Working paper on resilience of HAL

CAP1832 focuses on options the CAA is considering to provide further assurance that Heathrow Airport Limited (“HAL”) operates in a financially resilient manner and risks to consumers arising from financial distress are appropriately mitigated. It considers possible changes to the financial resilience and ring fencing provisions in HAL’s licence that may be appropriate given the scale and challenges of the development of new capacity at Heathrow airport. It develops further the thinking we set out in our consultations on the regulatory framework to support capacity expansion at Heathrow in June and December 2017.

For responses to this consultation: please email economicregulation@caa.co.uk

SW2019/162