Heathrow Airport is investigating ways to reduce expenses to cut the cost of its expansion plan, potentially meaning a smaller third runway.

According to a report by the Financial Times, the airport is preparing a new proposal for government review by the summer.

The original £14bn plan involved significant infrastructure changes, including demolishing homes and tunnelling the M25.

Airlines, including British Airways and Virgin Atlantic, are urging reconsidering Heathrow’s funding model, fearing higher prices for passengers.