Mr Walsh also blamed politicians for being "afraid" of tackling the issue of airport capacity.
He said: "I think it is fear on the part of politicians. They are afraid to tackle tough issues.
"It (expansion) has been kicked into the long grass and I think it will be sitting there for a considerable time."
He envisaged that there would still be only two runways operating at Heathrow even as late as 2050:
"New runway capacity is required, but I don't believe that capacity will be provided....This issue is too difficult for politicians and governments to deal with. We are positioning our business on the basis that there will be no expansion," he added.
More top news
Labour has revealed the twelve London constituencies at the top of its general election hit list.
One of London's most iconic locations, Borough Market is marking its millennium with a year long celebration, starting this weekend.
YouTube superstar Alfie Deyes got a sense of how far he has come when thousands of fans descended on his latest book signing in London.