China Investment Corporation (CIC), Beijing’s sovereign wealth fund, has placed its 10% holding in London’s Heathrow Airport on “active watch” and is weighing a sale, two insiders said. The move follows last‑year talks with financiers about off‑loading the stake, though no formal decision has been taken. CIC has owned the share since 2012, alongside investors such as Ardian, Qatar’s sovereign fund, Saudi PIF and Singapore’s GIC.

Heathrow’s proposed third runway and terminal complex carries a price tag of £33bn, a figure that has alarmed carriers and investors alike. British Airways and other airlines warn the cost could deter route expansion, while Chancellor Rachel Reeves aims for the runway to be operational by the mid‑2030s, requiring construction to start before 2030. CIC doubts the business case can survive such steep outlays.

The scrutiny comes as Heathrow faces a dip in passenger traffic amid Middle‑East tensions and a pending overhaul of its regulatory model that could alter airline landing fees. Investors fear a revamped fee structure would further weaken the runway’s economics. With CIC also eyeing a partial sale of its 17% stake in gas distributor Cadent, the fund’s UK retreat signals broader caution toward large‑scale infrastructure bets.