Heathrow needs to grow because its competitors (eg, Schiphol, CDG.. etc) are. If they can offer more capacity, more runways, terminals, slots etc airlines will opt more for them meaning business will go elsewhere away from the UK. The runways at Heathrow can't get any busier. It's incredible to watch the aircraft land and depart Heathrow. As a pilot myself it impresses me how well the air traffic controllers can make this work effectively. An extra runway will reduce holding (as I mentioned before; Ockham, Lambourne, Biggin and Bovingdon) and thus reduce the amount of emissions too, especially with the newer and more economic and fuel efficient aircraft coming online.
You can't really compare Tesco to Heathrow.
Jet2 are operating transatlantic but this won't affect Heathrow. Manchester hasn't got the capacity to take traffic away from Heathrow. You only have to look back to the 80's and 90's when places like Manchester and even Birmingham had a lot of major airlines flying in to them and now those airlines only fly out of heathrow, there's a reason for that, the market isn't there in Manchester, BHX etc.
Additionally no frills airlines (Easyjet, Ryanair) won't be causing Heathrow any problems either; they operate from and to airports that are furthest away from the cities they are operating at. The reason why they do this is because they then pay lower landing and handling fees. The closer the airports are to the city, the more the airlines pay and cost saving is key to the LowCo business model. Additionally, the new B737's Ryanair are taking and the new A319 and A320's that Easyjet are taking on won't affect LHR either; You can't go transatlantic on either type at MTOW and the way the no frills airlines make their money is by cramming their aircraft full of passengers with a poorer product on board than you'd get from the major carriers operating in to LHR.
Also a large number of airlines flying in to LHR are bringing in business passengers and frequent travellers that go for a specific on board product. The likes of Manchester, Gatwick, BHX etc are more catering for the Bucket and spade brigade. Even the Virgin flight out of Manchester is to Orlando for holidaymakers, all of virgin's business routes are out of heathrow. Heathrow's route structure relates more to business routes where flexibility and frequency is a must. I noticed you mentioned US airways, even they operate from Heathrow to Philadelphia and Charlotte if I remember right, although if all goes to plan US airways aeroplanes will soon be wearing American Airlines new livery.
Not sure why one would think runways would be shorter? Aircraft are actually getting larger in order to move larger numbers of passengers around.
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Some of the larger tour firms like Thomson and Thomas Cook are investing in the new Boeing Dreamliners. these are wide bodied aircraft which are both economical fuel wise and able to cover much longer distances. If Jet2 are looking to do a tarns-atlantic service you can be damn sure the rest will be watching very closely.
Thomson has had their B787 for a fair few months now and already sends it over the pond, this had already been their plan. Prior to that they were doing the same with B767's so nothing has changed in terms of the charter airlines. The B787 is replacing the B757 and B767's for most charter airlines. In terms of Jet2, they are using B757's.
Just as a general piece of info, British Airways have 4 B787 dreamliners based at Heathrow now and 3 airbus A380's with more of both to come.