Plans for Heathrow third runway revealed - including when it will be done and the multibillion-pound cost

Heathrow Airport has said it can build a third runway for £21bn within the next decade - with the total cost of expanding the airport estimated at £49bn.

Europe's busiest travel hub has submitted its plans to the government - with opponents raising concerns about carbon emissions, noise pollution and environmental impacts. The west London airport wants permission to create a 3,500m (11,400ft) runway, but insists it is open to considering a shorter one instead.

Chancellor Rachel Reeves said it's "essential" the UK increases its airport capacity "to ensure the things that we make here in Britain can be exported and sold throughout the world". "It will create new jobs, not just around Heathrow, but all around the UK, as it gives new export opportunities to businesses right across Britain," she told broadcasters.

But London mayor Sir Sadiq Khan is still against a new runway because of "the severe impact" it will have on the capital's residents. Under Heathrow's proposal, the runway would be constructed to the northwest of its existing location - allowing for an additional 276,000 flights per year.

The airport also wants to create new terminal capacity for 150 million annual passengers - up from 84 million - with plans involving a new terminal complex named T5XW and T5XN. Terminal 2 would be extended, while Terminal 3 and the old Terminal 1 would be demolished.

The runway would be privately funded, with the total plan costing about £49bn, but some airlines have expressed concern that the airport will hike its passenger charges to pay for the project. EasyJet chief executive Kenton Jarvis said an expansion would "represent a unique opportunity for easyJet to operate from the airport at scale for the first time and bring with it lower fares for consumers".

Read more:Who's behind these Heathrow leaflets?A long history of Heathrow's third runway plans Thomas Woldbye, the airport's chief executive, said in a statement that "it has never been more important or urgent to expand Heathrow". "We are effectively operating at capacity to the detriment of trade and connectivity," he added.

"With a green light from government and the correct policy support underpinned by a fit-for-purpose, regulatory model, we are ready to mobilise and start investing this year in our supply chain across the country. "We are uniquely placed to do this for the country.

It is time to clear the way for take-off." The M25 motorway would need to be moved into a tunnel under the new runway under the airport's proposal. London mayor still opposed Sir Sadiq says City Hall will "carefully scrutinise" the proposals, adding: "I'll be keeping all options on the table in how we respond." Tony Bosworth, climate campaigner at Friends of the Earth, also said that if Sir Keir Starmer wants to be "seen as a climate leader.